AGENDA

DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

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

The Capitol

January 23, 2001

This meeting is open to the public.

1. Approval of minutes of the meeting of November 29, 2000.

(Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $14,580,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION CAPITAL OUTLAY BONDS, 2001 SERIES A.

The bonds will be payable primarily from Motor Vehicle License 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, as indicated in the Eleventh Supplemental Authorizing Resolution of the State Board of Education.

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

(Recommend)

3. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $350,000,000 STATE OF FLORIDA, STATE BOARD OF EDUCATION LOTTERY REVENUE BONDS, VARIOUS SERIES.

The bonds will be payable from revenues of the Florida Lottery. The bonds will not be 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 districts.

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

(Recommend)

4. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $9,000,000 STATE OF FLORIDA, BOARD OF REGENTS, FLORIDA STATE UNIVERSITY HOUSING FACILITY REVENUE BONDS, SERIES 2001.

The bonds will be payable from the revenues of the housing system at the University. The bonds will not be secured by the full faith and credit of the State. The proceeds of the bonds will be used to finance housing facilities at the University.

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

(Recommend)

Division of Bond Finance

Page-Two January 23, 2001

5. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $3,000,000,000 STATE OF FLORIDA, DEPARTMENT OF ENVIRONMENTAL PROTECTION, FLORIDA FOREVER REVENUE BONDS.

The bonds will be payable from certain excise taxes on documents on a parity with Preservation 2000 Bonds. The bonds will not be secured by the full faith and credit of the State. The proceeds of the bonds will be used to finance the acquisition and improvement of public lands, water areas, and related property interests and resources.

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

(Recommend)

6. REPORT OF AWARD OF $101,070,000 STATE OF FLORIDA, DEPARTMENT OF TRANSPORTATION, TURNPIKE REVENUE BONDS, SERIES 2000B, 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 12:30 p.m., on November 20, 2000, and the bonds were awarded to the low bidder, Bear Stearns & Co. Inc., which submitted a bid at an annual true interest cost rate of 5.1832%. The bonds were delivered on December 13, 2000.

Of the $101,070,000 bonds sold, $56,970,000 (56%) will be used to finance various capital improvement projects, while $44,100,000 (44%) was used to acquire title to the Sawgrass Expressway through the redemption of the outstanding Sawgass bonds. The redemption of the Sawgrass bonds resulted in gross debt service savings of $3,852,224.70, average annual debt service savings of approximately $275,000 per year through 2014, and present value debt service savings of $2,778,740.11.

A report of award and tabulation of bids is attached.

(Attachment #2)

7. REPORT OF AWARD OF $14,605,000 STATE OF FLORIDA, BOARD OF REGENTS, FLORIDA INTERNATIONAL UNIVERSITY HOUSING FACILITY REVENUE BONDS, SERIES 2000, 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., on November 30, 2000 and the bonds were awarded to the low bidder, William R. Hough & Co., which submitted a bid at an annual true interest cost rate of 5.2703%. The bonds were delivered on December 19, 2000.

A report of award and tabulation of bids is attached.

(Attachment #3)

Division of Bond Finance
Page-Three January 23, 2001

8. REPORT OF AWARD OF $31,695,000 STATE OF FLORIDA, BOARD OF REGENTS, UNIVERSITY OF CENTRAL FLORIDA HOUSING REVENUE BONDS, SERIES 2000, 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 12:00 noon on December 12, 2000, and the bonds were awarded to the low bidder, Banc of America Securities LLC., which submitted a bid at an annual true interest cost rate of 5.1799%. The bonds were delivered on January 4, 2001.

A report of award and tabulation of bids is attached.

(Attachment #4)

9. REPORT OF AWARD OF $250,420,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY REFUNDING BONDS, 2001 SERIES A, 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 1:00 p.m., January 8, 2001 and the bonds were awarded to the low bidder, Merrill Lynch & Co., which submitted a bid at an annual true interest cost rate of 4.7159%. The bonds are anticipated to be delivered on January 25, 2001.

The refunding resulted in total gross savings of $25,383,213, average annual debt service savings of approximately $1,023,000 per year and present value debt service savings of $15,991,389.

A report of award and tabulation of bids is attached.

(Attachment #5)