AGENDA

MEETING OF THE
FLORIDA STATE BOARD OF ADMINISTRATION
(Contact Person: Dorothy Westwood - (850) 488-4406)
THE CAPITOL
TALLAHASSEE, FLORIDA
NOVEMBER 26, 2002

1. APPROVAL OF MINUTES FROM THE MEETING ON NOVEMBER 13, 2002. (Att. #1)

(ACTION REQUIRED)

2. APPROVAL OF FISCAL SUFFICIENCY OF AN AMOUNT NOT EXCEEDING $6,500,000 STATE OF FLORIDA, FLORIDA BOARD OF EDUCATION, FLORIDA STATE UNIVERSITY PARKING FACILITY REVENUE REFUNDING BONDS, SERIES 2002:

(ACTION REQUIRED)

The Division of Bond Finance of the State Board of Administration (the Division), on behalf of the Florida Board of Education, has submitted for approval as to fiscal sufficiency a proposal to issue an amount not exceeding $6,500,000 State of Florida, Florida Board of Education, Florida State University Parking Facility Revenue Refunding Bonds, Series 2002 (the Bonds) to refund all or a portion of the outstanding State of Florida, Board of Regents, Florida State University Parking Facility Revenue Bonds, Series 1992. The Bonds will be issued pursuant to the Original Resolution adopted by the Governor and Cabinet on July 21, 1992, as supplemented and amended by a resolution anticipated to be adopted by the Governor and Cabinet on November 26, 2002 (collectively referred to herein as the Resolution).

The Division on behalf of the Board of Regents has heretofore issued State of Florida, Board of Regents, Florida State University Parking Facility Revenue Bonds, Series 1992 and Series 2001 (the Series 1992 and Series 2001 Bonds) of which the principal amount of $16,110,000 was outstanding as of October 31, 2002. The Bonds shall be payable on a parity and rank equally as to lien on and source and security for payment from the Pledged Revenues (as defined in the Resolution) and in all other respects, with the outstanding Series 2001 Bonds and any portion of the Series 1992 Bonds that are not refunded.

A study of this proposal and the estimates of revenue expected to accrue from the Pledged Revenues indicate that the proposed bonds and all other outstanding bonds having a lien on the Pledged Revenues 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. #2)

3. APPROVAL OF FISCAL SUFFICIENCY OF AN AMOUNT NOT EXCEEDING $7,000,000 STATE OF FLORIDA, FLORIDA BOARD OF EDUCATION, FLORIDA AGRICULTURAL AND MECHANICAL UNIVERSITY STUDENT APARTMENT FACILITY REVENUE REFUNDING BONDS, SERIES 2002:

(ACTION REQUIRED)

The Division of Bond Finance of the State Board of Administration (the Division), on behalf of the Florida Board of Education, has submitted for approval as to fiscal sufficiency a proposal to issue an amount not exceeding $7,000,000 State of Florida, Florida Board of Education, Florida Agricultural and Mechanical University Student Apartment Facility Revenue Refunding Bonds, Series 2002 (the Bonds) to refund all or a portion of the outstanding State of Florida, Board of Regents, Florida Agricultural and Mechanical University Student Apartment Facility Revenue Bonds, Series 1992. The Bonds will be issued pursuant to the Original Resolution adopted by the Governor and Cabinet on February 4, 1992, as amended by resolutions adopted on March 17, 1992 and September 28, 1995, and supplemented by resolutions adopted on March 28, 1996 and the resolution anticipated to be adopted by the Governor and Cabinet on November 26, 2002 (collectively referred to herein as the Resolution).

The Division on behalf of the Board of Regents has heretofore issued State of Florida, Board of Regents, Florida Agricultural and Mechanical University Student Apartment Facility Revenue Bonds, Series 1996 and 1992 (the Series 1996 and Series 1992 Bonds) of which the principal amount of $16,550,000 was outstanding as of October 31, 2002. The Bonds shall be payable on a parity and rank equally as to lien on and source and security for payment from the Pledged Revenues (as defined in the Resolution) and in all other respects, with the outstanding Series 1996 Bonds and any portion of the Series 1992 Bonds that are not refunded.

A study of this proposal and the estimates of revenue expected to accrue from the Pledged Revenues indicate that the proposed bonds and all other outstanding bonds having a lien on the Pledged Revenues 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. #3)

4. APPROVAL OF FISCAL SUFFICIENCY OF AN AMOUNT NOT EXCEEDING $17,500,000 STATE OF FLORIDA, FLORIDA BOARD OF EDUCATION, UNIVERSITY OF CENTRAL FLORIDA HOUSING REVENUE REFUNDING BONDS, SERIES 2002:

(ACTION REQUIRED)

The Division of Bond Finance of the State Board of Administration (the Division), on behalf of the Florida Board of Education, has submitted for approval as to fiscal sufficiency a proposal to issue an amount not exceeding $17,500,000 State of Florida, Florida Board of Education, University of Central Florida Housing Revenue Refunding Bonds, Series 2002 (the Bonds) to refund all or a portion of the outstanding State of Florida, Board of Regents, University of Central Florida Student Apartment Facility Revenue Bonds, Series 1992. The Bonds will be issued pursuant to the Original Resolution adopted by the Governor and Cabinet on July 21, 1992, as amended and supplemented by resolutions adopted on May 29, 1996 and August 24, 1999, and the resolution anticipated to be adopted by the Governor and Cabinet on November 26, 2002 (collectively referred to herein as the "Resolution").

The Division on behalf of the Board of Regents has heretofore issued State of Florida, Board of Regents, University of Central Florida Student Apartment Facility Revenue Bonds, Series 1992 (the Series 1992 Bonds) and University of Central Florida Housing Revenue Bonds, Series 1996, Series 1999 and Series 2000 (the Series 1996, Series 1999 and Series 2000 Bonds) of which the principal amount of $92,070,000 was outstanding as of October 31, 2002. The Bonds shall be payable on a parity and rank equally as to lien on and source and security for payment from the Pledged Revenues (as defined in the Resolution) and in all other respects, with the outstanding Series 1996, Series 1999 and Series 2000 Bonds and any portion of the Series 1992 Bonds that are not refunded.

A study of this proposal and the estimates of revenue expected to accrue from the Pledged Revenues indicate that the proposed bonds and all other outstanding bonds having a lien on the Pledged Revenues 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. #4)