AGENDA

DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

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

The Capitol

February 6, 2001

This meeting is open to the public.

1. Approval of minutes of the meeting of January 23, 2001.

(Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE AND COMPETITIVE SALE OF NOT EXCEEDING $210,000,000 STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION PRESERVATION 2000 REVENUE REFUNDING BONDS, SERIES 2001A.

The bonds will be payable from certain excise taxes on documents. 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 Preservation 2000 bonds.

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

(Recommend)

3. ADOPTION OF A RESOLUTION AMENDING AND RESTATING THE STATE OF FLORIDA, STATE BOARD OF EDUCATION, LOTTERY REVENUE BONDS AUTHORIZING RESOLUTION ADOPTED ON DECEMBER 16, 1997, AS AMENDED.

The Authorizing Resolution is being amended and restated to reflect the creation of the Lottery Capital Outlay and Debt Service Trust Fund by the Legislature in Section 1, Chapter 2000-120, Laws of Florida.

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

(Recommend)

4. REPORT OF AWARD OF $341,540,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY REFUNDING BONDS, 2001 SERIES B, 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 January 23, 2001, and the bonds were awarded to the low bidder, Morgan Stanley & Co. Incorporated, which submitted a bid at an annual true interest cost rate of 4.8869%. The bonds are scheduled to be delivered on February 21, 2001.

The refunding resulted in gross debt service savings of $29,051,099, average annual debt service savings of approximately $1,160,000 and present value debt service savings of $17,408,961.

A report of award and tabulation of bids is attached.

(Attachment #2)