AGENDA

DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

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

The Knott Building

August 28, 2001

This meeting is open to the public.

1. Approval of minutes of the meeting of August 14, 2001.

(Attachment #1)

2. ADOPTION OF RESOLUTIONS AUTHORIZING THE ISSUANCE AND COMPETITIVE SALE OF NOT EXCEEDING $220,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY REFUNDING BONDS, 2001 SERIES [TO BE DETERMINED].

The Twenty-third 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 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.

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

(Recommend)

3. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $35,000,000 STATE OF FLORIDA, FLORIDA BOARD OF EDUCATION, UNIVERSITY SYSTEM IMPROVEMENT REVENUE BONDS, SERIES 2001.

The bonds will be secured by a pledge of the capital improvement fees and the net student building fees collected by the Florida Board of Education.  The bonds will not be secured by the full faith and credit of the State of Florida.  The proceeds of the bonds will be used to finance legislatively authorized projects of the Florida Board of Education.

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

(Recommend)

4. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $9,000,000 STATE OF FLORIDA, FLORIDA BOARD OF EDUCATION, FLORIDA ATLANTIC UNIVERSITY PARKING FACILITY REVENUE BONDS, SERIES 2001.

The bonds will be payable from revenues of the University relating to the parking system.  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 garage at the Boca Raton campus of the University.  The resolution also accommodates the creation of the State Board of Education and makes several technical changes to the authorizing resolution.

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

(Recommend)

Division of Bond Finance

Page-Two August 28, 2001

5. REPORT OF AWARD OF $17,555,000 STATE OF FLORIDA, SUNSHINE SKYWAY REVENUE REFUNDING BONDS, SERIES 2001 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 11:30 a.m. on August 9, 2001, and the bonds were awarded to the low bidder, Merrill Lynch & Co., which submitted a bid at an annual true interest cost rate of 3.7106%.  The refunding resulted in gross debt service savings of $3,916,939, average annual debt service savings of approximately $497,000 and present value debt service savings of $1,917,317.  The bonds were delivered on August 23, 2001.

A report of award and tabulation of bids is attached.

(Attachment #2)