DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

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

The Capitol

July 14, 1998

1. Approval of minutes of the meeting of June 24, 1998.

(Attachment #1)

2. ADOPTION OF 1) THE THIRTEENTH SUPPLEMENTAL AUTHORIZING RESOLUTION

AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $500,000,000 STATE OF

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

EDUCATION CAPITAL OUTLAY BONDS, 1998 SERIES, AND OF 2) A RESOLUTION

AUTHORIZING THE COMPETITIVE SALE AND DELIVERY OF NOT EXCEEDING

$250,000,000 OF STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF

EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 1998 SERIES A (THE

"1998 SERIES A BONDS").

The Thirteenth 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 finance public education capital outlay projects

authorized during the 1998 legislative session. The bonds will be payable from gross receipts

taxes, and will be additionally 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 and community college

districts and the State University System.

The 1998 Series A Bonds will be the first series of bonds sold pursuant to the Thirteenth

Supplemental Authorizing Resolution.

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 $90,000,000 STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL

PROTECTION SAVE OUR COAST REFUNDING REVENUE BONDS, SERIES 1998A.

The bonds will be payable from certain excise taxes on documents required to be transferred to

the Land Acquisition Trust Fund and certain earnings and investment income derived from the

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

proceeds of the bonds will be used to refund certain outstanding Save Our Coast Bonds.

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

(Recommend)

4. ADOPTION OF A RESOLUTION AUTHORIZING REDEMPTION PRIOR TO THE DATE

OF MATURITY OF THE STATE OF FLORIDA, FULL FAITH AND CREDIT, NASSAU

COUNTY ROAD BONDS, DATED MAY 1, 1974.

The bonds were issued by the Division of Bond Finance on behalf of Nassau County. Nassau

County wishes to redeem the bonds prior to maturity. The resolution will authorize such

redemption, as provided for in the documents authorizing the bonds, at a date to be determined

by the State Board of Administration.

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

(Recommend)