Cabinet Affairs

AGENDA

DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

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

The Capitol

March 9, 1999

This meeting is open to the public.

1. Approval of minutes of the meeting of February 23, 1999.

(Attachment #1)

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

EXCEEDING $9,200,000 DEPARTMENT OF MANAGEMENT SERVICES, FLORIDA

FACILITIES POOL REVENUE BONDS, SERIES 1999A.

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 regional service center in Opa Locka.

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

(Recommend)

3. REPORT OF AWARD OF $109,835,000 STATE OF FLORIDA, DEPARTMENT OF

TRANSPORTATION, TURNPIKE 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 11:30 a.m., February 18, 1999, and the bonds were

awarded to the low bidder, Bear, Stearns & Co., which submitted a bid at an annual true interest

cost rate of 4.8683%. The bonds are anticipated to be delivered on Thursday, March 11, 1999.

A report of award and tabulation of bids is attached.

(Attachment #2)