AGENDA

DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

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

The Capitol

October 24, 2000

This meeting is open to the public.

1. Approval of minutes of the meeting of October 10, 2000.

(Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $125,000,000 STATE OF FLORIDA, DEPARTMENT OF TRANSPORTATION TURNPIKE REVENUE BONDS, SERIES 2000B.

The bonds will be payable from tolls and other revenues of the Florida Turnpike System. The bonds will not be secured by the full faith and credit of the State. Proceeds of the bonds will be used to finance all or a portion of the costs of the replacement of a Mainline bridge span, the construction of an administration building, the improvement of various Mainline interchanges, the widening of the Mainline at the Western Beltway/East-West Expressway interchange area, and the acquisition of title to the Sawgrass Expressway. The acquisition of title to the Sawgrass Expressway will be accomplished through a redemption of the current Sawgrass bonds with proceeds of Turnpike bonds and cash loaned to the Turnpike by the Department of Transportation. Repayment of the loan from the Department of Transportation will be from Turnpike revenues on a subordinate basis to Turnpike bonds.

To the extent that bond proceeds are not necessary to accomplish the purposes described in the preceding paragraph, the 2000A Turnpike Project may also consist of any other Turnpike Projects approved by the Florida Legislature, subject to verification of economic and environmental feasibility, if necessary, and consistency with local government comprehensive plans.

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

(Recommend)