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AGENDA DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION (Contact
person: J. Ben Watkins III - 488-4782) This meeting is open to the public. 1.
Approval of minutes of the meeting of August 28, 2001. 2. ADOPTION OF RESOLUTIONS AUTHORIZING THE ISSUANCE AND COMPETITIVE SALE OF NOT EXCEEDING $110,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY REFUNDING BONDS, 2001 SERIES. The Twenty-fourth Supplemental Authorizing Resolution supplements the Public Education Capital Outlay Bond Master Resolution adopted by the Division of Bond Finance on July 21, 1992, and contains the authorization for bonds necessary to refinance a portion of certain outstanding Public Education Capital Bonds. The bonds will be payable primarily from gross receipts taxes, and will be additionally secured by the full faith and credit of the State. Copies of the resolutions may be obtained from the Division of Bond Finance upon request. (Recommend) 3. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE AND COMPETITIVE SALE OF NOT EXCEEDING $190,000,000 STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION PRESERVATION 2000 REVENUE REFUNDING BONDS, SERIES 2001B. The bonds will be payable from certain excise taxes on documents on a parity with previously issued Preservation 2000 and Florida Forever 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 refund certain outstanding Preservation 2000 bonds. Copies of the resolution may be obtained from the Division of Bond Finance upon request. (Recommend) 4. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $25,500,000 STATE OF FLORIDA, FLORIDA BOARD OF EDUCATION, FLORIDA STATE UNIVERSITY HOUSING FACILITY REVENUE BONDS, SERIES 2001A. Copies of the resolution may be obtained from the Division of Bond Finance upon request. (Recommend)
5. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $23,500,000 STATE OF FLORIDA, FLORIDA BOARD OF EDUCATION, THE FLORIDA STATE UNIVERSITY RESEARCH FOUNDATION, INCORPORATED, REVENUE BONDS, SERIES 2001. The bonds will be payable from the lease revenues of the Research Foundation, and will be additionally secured by the unconditional guaranty of the Research Foundation. 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 research and development facilities by the Research Foundation, for the benefit of the University. The resolution also amends and supplements a resolution adopted on June 12, 2001, which authorized issuance of the bonds. Copies of the resolution may be obtained from the Division of Bond Finance upon request. (Recommend) 6. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE AND COMPETITIVE SALE OF NOT EXCEEDING $100,000,000 STATE OF FLORIDA, DEPARTMENT OF ENVIRONMENTAL PROTECTION, FLORIDA FOREVER REVENUE BONDS, SERIES 2001B. The bonds will be payable from certain excise taxes on documents on a parity with previously issued Preservation 2000 and Florida Forever 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 upon request. (Recommend) 7. REPORT OF AWARD OF $185,240,000, STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION PRESERVATION 2000 REVENUE REFUNDING BONDS, SERIES 2001A, TO THE LOW BIDDER FOR SUCH BONDS. The Division of Bond Finance was authorized to received 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 11:00 a.m., Thursday, August 23, 2001, and the bonds were awarded to the low bidder, Salomon Smith Barney Inc., which submitted a bid at an annual true interest cost rate of 3.9748%. The bonds are scheduled to be delivered on September 20, 2001. The refunding resulted in total gross savings of $14,232,079, average annual debt service savings of approximately $1,186,000 per year and present value debt service savings of $11,313,597. A report of award and tabulation of bids is attached. (Attachment #2) |
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