1.
APPROVAL OF FISCAL SUFFICIENCY OF AN AMOUNT NOT EXCEEDING $21,000,000
STATE
OF FLORIDA, SUNSHINE SKYWAY REVENUE REFUNDING BONDS, SERIES 2001:
The
Division of Bond Finance of the State Board of Administration
(the "Division"), has submitted for approval as to fiscal
sufficiency a proposal to issue an amount Not Exceeding $21,000,000
State of Florida, Sunshine Skyway Revenue Refunding Bonds, Series
2001 (the "Bonds") for the purpose of refunding all
or a portion of the Sunshine Skyway Revenue Refunding Bonds, Series
of 1991.
The
Bonds shall be payable from the net revenues of the Florida Sunshine
Skyway Bridge on a parity as to lien and security for payment
with the remaining outstanding Series of 1991 Bonds, if any.
A
study of this proposal and the estimates of revenue expected to
accrue from the pledged revenues indicate that the proposed bonds
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. #1)
Cabinet
Affairs
