|
|
Cabinet
Affairs |
|
|
  |
|
|||||||||||
|
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 June 25, 2002. 2. ADOPTION OF 1) THE TWENTY-FIFTH SUPPLEMENTAL AUTHORIZING RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $613,400,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 2002 SERIES, AND OF 2) A RESOLUTION AUTHORIZING THE COMPETITIVE SALE AND DELIVERY OF NOT EXCEEDING $250,000,000 OF STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 2002 SERIES A. The Twenty-fifth 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 finance public education capital outlay projects authorized during the 2002 legislative session. 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 not exceeding $250,000,000 2002 Series A bonds will be the first series of bonds sold pursuant to the Twenty-fifth Supplemental Authorizing Resolution. Copies of the resolutions may be obtained from the Division of Bond Finance upon request. (Recommend) 3. ADOPTION OF RESOLUTIONS AUTHORIZING THE ISSUANCE AND COMPETITIVE SALE OF NOT EXCEEDING $295,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION PUBLIC EDUCATION CAPITAL OUTLAY REFUNDING BONDS, 2002 SERIES B. The Twenty-sixth 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 refund a portion of certain outstanding Public Education Capital Outlay 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) Division
of Bond Finance 4. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $150,000,000 STATE OF FLORIDA, DEPARTMENT OF ENVIRONMENTAL PROTECTION FLORIDA FOREVER REVENUE BONDS, SERIES 2002B. 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) 5. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $200,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY ACQUISITION AND BRIDGE CONSTRUCTION BONDS, SERIES 2002A. The bonds will be payable primarily from motor fuel and special fuel 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 the cost of acquiring real property or the rights to real property for state roads, or to finance the cost of state bridge construction, and purposes incidental thereto. 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 $60,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, DEPARTMENT OF TRANSPORTATION RIGHT OF WAY ACQUISITION AND BRIDGE CONSTRUCTION REFUNDING BONDS, SERIES 2002B. The bonds will be payable primarily from motor fuel and special fuel taxes, and will be additionally secured by the full faith and credit of the State of Florida. The proceeds of the bonds will be used to refund all or a portion of certain outstanding Department of Transportation Right Of Way Acquisition and Bridge Construction Bonds. Copies of the resolution may be obtained from the Division of Bond Finance upon request. (Recommend) Division
of Bond Finance 7. REPORT OF AWARD ON COMPETITIVE SALE OF $150,000,000 STATE OF FLORIDA, STATE BOARD OF EDUCATION LOTTERY REVENUE BONDS, SERIES 2002B 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 July 11, 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 4.4416%. The bonds were delivered on July 31, 2002. A report of award and tabulation of bids is attached. (Attachment #2) 8. REPORT OF AWARD ON COMPETITIVE SALE OF $94,740,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION CAPITAL OUTLAY REFUNDING BONDS, 2002 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 for the bonds were received at the office of the Division of Bond Finance at 12:00 noon, Tuesday, July 23, 2002, and the bonds were awarded to the low bidder, UBS PaineWebber Inc., which submitted a bid at an annual true interest cost rate of 3.7408%. The bonds are scheduled to be delivered on August 22, 2002. The refunding resulted in gross debt service savings of $9,344,898, average annual debt service savings of approximately $755,000 and present value debt service savings of $7,472,835. A report and tabulation of bids received is attached. (Attachment #3) |
|||||||||||||
