AGENDA

DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

(Contact person: J. Ben Watkins III - 488-4782)

The Capitol

April 27, 1999

This meeting is open to the public.

1. Approval of minutes of the meeting of April 13, 1999.

(Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT

EXCEEDING $300,000,000 STATE OF FLORIDA, STATE BOARD OF EDUCATION

LOTTERY REVENUE BONDS, SERIES 1999A.

The bonds will be payable primarily from revenues of the Florida Lottery. The bonds are not

secured by the full faith and credit of the State. The proceeds of the bonds will be used to

finance capital outlay projects for school districts.

Copies of the resolution may be obtained from the Division of Bond Finance upon request.

(Recommend)

3. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING

$9,220,000 STATE OF FLORIDA, BOARD OF REGENTS, FLORIDA INTERNATIONAL

UNIVERSITY PARKING FACILITY REVENUE BONDS, SERIES 1999.

The bonds will be payable from revenues of the parking facilities at the University. The bonds

are not secured by the full faith and credit of the State of Florida. The proceeds of the bonds will

be used to finance the construction of a parking facility at Florida International University.

Copies of the resolution may be obtained from the Division of Bond Finance upon request.

(Recommend)

4. REPORT OF AWARD OF $74,085,000 STATE OF FLORIDA, FULL FAITH AND CREDIT,

STATE BOARD OF EDUCATION, CAPITAL OUTLAY BONDS, 1999 SERIES A, TO THE

LOW BIDDER FOR SUCH BONDS.

The Division of Bond Finance was authorized to receive bids for these bonds, and award them to

the low bidder, by a resolution adopted by the Governor and Cabinet. Bids for the bonds were

received at the office of the Division of Bond Finance at 11:00 a.m., Wednesday, April 7, 1999,

and the bonds were awarded to Salomon Smith Barney, which submitted a bid at an annual true

interest cost rate of 4.6375%. The bonds are scheduled to be delivered on April 28, 1999.

A report and tabulation of bids received is attached.

(Attachment #2)

Division of Bond Finance

Page-Two April 27, 1999

5. REPORT OF AWARD OF $21,175,000 STATE OF FLORIDA, DEPARTMENT OF

MANAGEMENT SERVICES FLORIDA FACILITIES POOL REVENUE BONDS, SERIES

1999A, TO THE LOW BIDDER FOR SUCH BONDS.

The Division of Bond Finance was authorized to receive bids for these bonds, and award them to

the low bidder, by resolutions adopted by the Governor and Cabinet. Bids for the bonds were

received at the office of the Division of Bond Finance at 10:30 a.m., Thursday, April 15, 1999,

and the bonds were awarded to William R. Hough & Co., which submitted a bid at an annual true

interest cost rate of 4.8942%. The bonds are scheduled to be delivered on May 5, 1999.

Of the $21,175,000 of bonds sold, $9,010,000 (43%) is allocable to finance project costs, while

$12,165,000 (57%) is allocable to the refunding of certain outstanding obligations. The

refunding accomplished by a portion of the proceeds of the bonds resulted in total gross savings

of $1,264,881, average annual debt service savings of approximately $50,000 and present value

debt service savings of $765,174.

A report and tabulation of bids received is attached.

(Attachment #3)