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AGENDA
MEETING OF THE STATE BOARD OF ADMINISTRATION
(Contact Person: Dorothy Westwood - 488-4406)
THE CAPITOL
November 7, 1996

1. Approval of minutes of meeting held on October 22, 1996. (Att. #1)

2. APPROVAL OF FISCAL SUFFICIENCY OF NOT TO EXCEED $19,455,000 STATE OF FLORIDA, BOARD OF REGENTS, UNIVERSITY OF CENTRAL FLORIDA HOUSING REVENUE BONDS, SERIES 1996:

The Division of Bond Finance of the State Board of Administration (the "Division"), on behalf of and in the name of the Board of Regents, has submitted for approval as to fiscal sufficiency a proposal to issue an amount Not to Exceed $19,455,000 State of Florida, Board of Regents, University of Central Florida Housing Revenue Bonds, Series 1996, (the "1996 Bonds") for the purpose of providing funds for the construction, furnishing and equipping of a student housing facility on the main campus of the University of Central Florida, providing for capitalized interest, purchasing a municipal bond insurance policy, funding a reserve account and paying certain costs associated with the issuance and sale of the 1996 Bonds. The Governing Board of the Division adopted the Supplemental Authorizing Resolution for the proposed bonds on May 29, 1996.

A study of this proposal and the estimates of revenue expected to accrue from the Pledged Revenues indicate that the proposed bonds and all other outstanding bonds having a lien on the Pledged Revenues are fiscally sufficient and that the proposal will be executed pursuant to the applicable provisions of law.

Recommendation: It is recommended that the Board approve the fiscal sufficiency of the proposal outlined above. (Att. #2)

3. APPROVAL OF FISCAL SUFFICIENCY OF NOT TO EXCEED $40,395,000 STATE OF FLORIDA, BOARD OF REGENTS, UNIVERSITY SYSTEM IMPROVEMENT REVENUE BONDS, SERIES 1997:

The Division of Bond Finance of the State Board of Administration (the "Division"), on behalf of and in the name of the Board of Regents, has submitted for approval as to fiscal sufficiency a proposal to issue an amount Not to Exceed $40,395,000 State of Florida, Board of Regents, University System Improvement Revenue Bonds, Series 1997, (the "1997 Bonds") for the purpose of paying a portion of the cost of acquisition and construction of buildings and facilities at institutions of higher learning within the State University System of Florida, funding a reserve account and paying certain costs associated with the issuance and sale of the 1997 Bonds. The Governing Board of the Division adopted the Supplemental Authorizing Resolution for the proposed bonds on October 8, 1996.

A study of this proposal and the estimates of revenue expected to accrue from the Pledged Revenues indicate that the proposed bonds and all other outstanding bonds having a lien on the Pledged Revenues are fiscally sufficient and that the proposal will be executed pursuant to the applicable provisions of law.

Recommendation: It is recommended that the Board approve the fiscal sufficiency of the proposal outlined above. (Att. #3)

4. APPROVAL OF FISCAL SUFFICIENCY OF NOT TO EXCEED $9,600,000 STATE OF FLORIDA, DEPARTMENT OF MANAGEMENT SERVICES, DIVISION OF FACILITIES MANAGEMENT, FLORIDA FACILITIES POOL REVENUE BONDS, SERIES 1996B:

The Division of Bond Finance of the State Board of Administration (the "Division"), has submitted for approval as to fiscal sufficiency a proposal to issue an amount Not to Exceed $9,600,000 State of Florida, Department of Management Services, Division of Facilities Management, Florida Facilities Pool Revenue Bonds, Series 1996B, (the "Series 1996B Bonds") on behalf of the Division of Facilities Management of the Department of Management Services. The Bonds are being issued for the purpose of paying certain costs of issuance and to pay all or a portion of the cost of certain facilities, as detailed in the bond documents, to be leased in whole or in part to state agencies. It is anticipated the Seventeenth Supplemental Revenue Bond Resolution for the proposed Series 1996B Bonds will be approved by the Governing Board of the Division on November 7, 1996.

A study of this proposal and the estimates of revenue and other available monies expected to accrue indicate that the proposed Bonds are fiscally sufficient and that the proposal will be executed pursuant to the applicable provisions of law.

Recommendation: It is recommended that the Board approve the fiscal sufficiency of the proposal outlined above. (Att. #4)

5. APPROVAL OF FISCAL SUFFICIENCY OF NOT TO EXCEED $10,500,000 STATE OF FLORIDA, BOARD OF REGENTS, UNIVERSITY OF SOUTH FLORIDA HOUSING FACILITY REVENUE BONDS, SERIES 1996A:

The Division of Bond Finance of the State Board of Administration (the "Division"), on behalf of and in the name of the Board of Regents, has submitted for approval as to fiscal sufficiency a proposal to issue an amount Not to Exceed $10,500,000 State of Florida, Board of Regents, University of South Florida Housing Facility Revenue Bonds, Series 1996A, (the "1996A Bonds") for the purpose of paying the cost of renovation and improvement of a student housing facility on the Tampa campus of the University of South Florida, purchasing a municipal bond insurance policy, funding a reserve account, providing for capitalized interest and paying certain costs associated with the issuance and sale of the 1996A Bonds. The Governing Board of the Division adopted the Authorizing Resolution for the proposed bonds on August 8, 1995.

A study of this proposal and the estimates of revenue expected to accrue from the Pledged Revenues indicate that the proposed bonds are fiscally sufficient and that the proposal will be executed pursuant to the applicable provisions of law.

Recommendation: It is recommended that the Board approve the fiscal sufficiency of the proposal outlined above. (Att. #5)