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AGENDA
MEETING OF THE
STATE BOARD OF ADMINISTRATION
(Contact Person: Dorothy Westwood
- 488-4406)
THE CAPITOL
November 16, 2000
- Approval of minutes of meeting held October
24, 2000. (Att. #1)
2. APPROVAL OF FISCAL
SUFFICIENCY OF NOT EXCEEDING $32,200,000 STATE OF FLORIDA, BOARD
OF REGENTS, UNIVERSITY OF CENTRAL FLORIDA HOUSING REVENUE BONDS,
SERIES (TO BE DETERMINED):
The Division of Bond Finance of the State Board
of Administration (the "Division"), on behalf of the Board of Regents,
has submitted for approval as to fiscal sufficiency a proposal to
issue an amount Not Exceeding $32,200,000 State of Florida, Board
of Regents, University of Central Florida Housing Revenue Bonds,
Series (to be determined) (the "Bonds") for the purpose of paying
a portion of the cost of construction of a student housing complex
on the main campus of the University of Central Florida (Phase 2
of the Academic Villages Project), 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 Bonds. The Bonds will be payable on a parity with the
$19,080,000 State of Florida, Board of Regents, University of Central
Florida Student Apartment Facility Revenue Bonds, Series 1992, $18,420,000
Housing Revenue Bonds, Series 1996 and $28,140,000 Housing Revenue
Bonds, Series 1999 from the pledged housing system revenues. On
August 24, 1999, The Governing Board of the Division adopted the
Supplemental Authorizing Resolution, which authorized the issuance
of $60,340,000 in bonds for the Academic Villages Project, of which
$28,140,000 Housing Revenue Bonds, Series 1999 have been previously
issued to finance Phase 1 of the Project. It is anticipated that
the Sale Resolution will be adopted by the Governor and Cabinet
on November 16, 2000.
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)
AGENDA
November 16, 2000
Page two
3. THE INVESTMENT SERVICES IMPLEMENTATION
GROUP - INFORMATION ONLY:
The Investment Services Implementation Group,
working with Callan & Associates, the investment services consultant,
has completed the Product Design for the seven actively managed
funds in Tiers I and III of the Investment Policy Statement, as
initially approved by the Trustees on September 26, 2000. Product
Design is the first step in the process for the selection of the
investment product providers for the PEORP
and serves as the framework for the development of the Selection
and Evaluation criteria, which the Trustees are required by statute
to approve. The purpose of Product Design is to ensure liquidity,
capacity, low tracking error and potential enhanced return relative
to the benchmark for each fund. This document represents our best
thinking to date and may change as we continue through the process.
The document is attached for your information. (Att. #3)
- DC IMPLEMENTATION STATUS REPORT #4: (Att. #4)
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