AGENDA

DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

(Contact person: J. Ben Watkins III - 488-4782)
The Capitol
May 21, 2002

This meeting is open to the public.

1. Approval of minutes of the meeting of April 9, 2002.
(Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $200,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 2001 SERIES [TO BE DETERMINED].

The bonds will be payable from gross receipts 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 and the State University System. The resolution also ratifies a resolution adopted on August 14, 2001 which authorized the competitive sale of $250,000,000 in bonds, of which $200,000,000 has been issued. The remaining $50,000,000, plus the current authorization of $200,000,000, results in a total sale authorization of up to $250,000,000 in bonds.
The bonds will be the third series of bonds sold pursuant to the Twenty-second Supplemental Authorizing Resolution.

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

(Recommend)

3. REPORT OF AWARD ON THE COMPETITIVE SALE OF $128,300,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 2000 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 resolutions adopted by the Governor and Cabinet. Bids were received at the office of the Division of Bond Finance at 12:00 noon on April 11, 2002, and the bonds were awarded to the low bidder, Lehman Brothers, which submitted a bid at an annual true interest cost rate of 5.0326%. The bonds were delivered on May 2, 2002

A report of award and tabulation of bids is attached.

(Attachment #2)

Division of Bond Finance
Page-Two May 21, 2002

4. REPORT OF AWARD ON THE COMPETITIVE SALE OF $150,000,000 STATE OF FLORIDA, STATE BOARD OF EDUCATION LOTTERY REVENUE BONDS, SERIES 2002A 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 April 4, 2002, and the bonds were awarded to the low bidder, Merrill Lynch & Co., which submitted a bid at an annual true interest cost rate of 4.8411%. The bonds were delivered on April 25, 2002.

A report of award and tabulation of bids is attached.

(Attachment #3)

5. REPORT OF AWARD ON THE COMPETITIVE SALE OF $26,070,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, CAPITAL OUTLAY BONDS, 2002 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 for the bonds were received at the office of the Division of Bond Finance at 11:00 a.m., Tuesday, May 7, 2002, 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 4.6672%. The bonds are scheduled to be delivered on May 29, 2002.

A report of award and tabulation of bids received is attached.

(Attachment #4)