DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

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

The Capitol

June 22, 1999

This meeting is open to the public.

1. Approval of minutes of the meeting of April 27, 1999.

(Attachment #1)

2. ADOPTION OF (1) THE EIGHTEENTH SUPPLEMENTAL AUTHORIZING RESOLUTION

TO THE MASTER AUTHORIZING RESOLUTION ADOPTED ON JULY 21, 1992,

AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $350,000,000 STATE OF

FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC

EDUCATION CAPITAL OUTLAY REFUNDING BONDS (ONE OR MORE SERIES) (THE

"BONDS") AND (2) A RESOLUTION AUTHORIZING THE NEGOTIATED SALE OF NOT

EXCEEDING $350,000,000 OF THE BONDS AND THE SELECTION OF UNDERWRITERS.

The Eighteenth Supplemental Authorizing Resolution supplements the Public Education Capital

Outlay Bond Master Resolution adopted by the Division of Bond Finance on July 21, 1992, and

contains the authorization for bonds necessary to refinance a portion of certain outstanding

Public Education Capital Outlay Bonds. The bonds will be payable primarily from gross receipts

taxes, and will be additionally secured by the full faith and credit of the State. The proceeds

from the sale of the bonds will be used to refund a portion of the Public Education Capital Outlay

Series 1989A Bonds on June 1, 2000. An analysis of the most effective method of sale and

recommendation regarding same have been provided.

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

(Recommend)

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

EXCEEDING $30,500,000 DEPARTMENT OF MANAGEMENT SERVICES, FLORIDA

FACILITIES POOL REVENUE BONDS, SERIES 1999B.

The bonds will be secured by the revenues derived by the Department of Management Services

from the leasing of buildings to State agencies. The bonds will not be secured by the full faith

and credit of the State. The proceeds of the bonds will be used to provide a portion of the

acquisition and construction costs of a Computer Center in Leon County, an FDLE Regional

Operating Facility in Dade County and a Regional Service Center in Alachua County.

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

(Recommend)

Division of Bond Finance

Page-Two June 22, 1999

4. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE 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 the revenues of the parking system at the University. The bonds

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

used to finance a parking facility at the University.

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

(Recommend)

5. ADOPTION OF A RESOLUTION AUTHORIZING THE DIVISION OF BOND FINANCE TO

ISSUE A "REQUEST FOR PROPOSALS" IN ORDER TO SOLICIT PROPOSALS FROM

FIRMS INTERESTED IN BEING SELECTED AS FINANCIAL ADVISOR FOR THE

DIVISION OF BOND FINANCE AND DIRECTING THE DIVISION TO RANK

RESPONDENT FIRMS AND MAKE A RECOMMENDATION OF SUCH FIRMS TO THE

GOVERNING BOARD OF THE DIVISION.

The selected firms would act as financial advisors to the Division of Bond Finance on an as

needed basis.

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

(Recommend)

6. REPORT OF AWARD OF $300,000,000 STATE OF FLORIDA DEPARTMENT OF

ENVIRONMENTAL PROTECTION PRESERVATION 2000 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 a resolution adopted by the Governor and Cabinet. Bids were received at the

office of the Division of Bond Finance at 11:00 a.m., May 25, 1999, and the bonds were awarded

to the low bidder, Salomon Smith Barney, which submitted a bid at an annual true interest cost

rate of 4.6038%. The bonds were delivered on June 8, 1999.

A report of award and tabulation of bids is attached.

(Attachment #2)