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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 September 11, 2001. 2. REPORT OF AWARD OF $7,990,000 STATE OF FLORIDA, FLORIDA BOARD OF EDUCATION, FLORIDA ATLANTIC UNIVERSITY PARKING FACILITY REVENUE BONDS, SERIES 2001 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 11:00 a.m. on October 11, 2001 and the bonds were awarded to the low bidder, First Union National Bank, which submitted a bid at a true interest cost rate of 4.4503%. The bonds are scheduled to be delivered on November 1, 2001. A report of award and tabulation of bids is attached. (Attachment #2) 3. REPORT OF AWARD OF $268,640,000 STATE OF FLORIDA, DEPARTMENT OF ENVIRONMENTAL PROTECTION FLORIDA FOREVER REVENUE BONDS, SERIES 2001B 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 11:00 a.m. on October 4, 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 4.0644%. The bonds were delivered on October 18, 2001. Of the $268,640,000 bonds sold, $100,000,000 (37%) will be used to provide funds for the Florida Forever program, while $168,640,000 (63%) will be used to refund certain outstanding bonds. The refunding resulted in gross debt service savings of $14,528,636, average annual debt service savings of approximately $1,350,000 and present value debt service savings of $11,387,325. A report of award and tabulation of bids is attached. (Attachment #3) 4. REPORT OF AWARD OF $209,785,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY REFUNDING BONDS, 2001 SERIES E, 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., on September 10, 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 5.0720%. The bonds were delivered on October 3, 2001. The refunding resulted in gross debt service savings of $30,834,449, average annual debt service savings of approximately $1,300,000 and present value debt service savings of $17,906,345. A report of award and tabulation of bids is attached. (Attachment #4) |
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