The Governor and Cabinet - Florida Department of State

AGENDA

MEETING OF THE

STATE BOARD OF ADMINISTRATION

(Contact Person: Dorothy Westwood - (850) 488-4406)

THE CAPITOL

TALLAHASSEE, FLORIDA

June 12, 2003

1. APPROVAL OF MINUTES FROM THE MEETING ON MAY 28, 2003.

(Att. #1)

(ACTION REQUIRED)

2. APPROVAL OF FISCAL DETERMINATION OF AN AMOUNT NOT EXCEEDING $15,200,000 TAX EXEMPT FLORIDA HOUSING FINANCE CORPORATION MULTIFAMILY MORTGAGE REVENUE BONDS, 2003 SERIES (SERIES TO BE DESIGNATED) (BARCLAY FORGE APARTMENTS):

(ACTION REQUIRED)

The Florida Housing Finance Corporation has submitted for approval as to fiscal determination a proposal to issue an amount not exceeding $15,200,000 Tax Exempt Florida Housing Finance Corporation Multifamily Mortgage Revenue Bonds, 2003 Series (series to be designated) (the Bonds) for the purpose of financing the construction and equipping of a multifamily residential rental development located in Hernando County, Florida (Barclay Forge Apartments).

The Bonds shall not constitute an obligation, either general or special, of the State or of any local government thereof; neither the State nor any local government thereof shall be liable thereon. Neither the full faith, revenue, credit nor taxing power of the State of Florida, or any local governments thereof shall be pledged to the payment of the principal of, premium (if any), or interest on the Bonds. The Bonds shall be payable as to principal, premium (if any), and interest solely out of revenues and other amounts pledged therefor.

RECOMMENDATION: It is recommended that the Board approve the fiscal determination of the proposal outlined above. It is further recommended that, pursuant to the fiscal determination requirements of Subsection 16(c) of Article VII of the revised Constitution of 1968, the Board find and determine that in no State fiscal year will the debt service requirements of the Bonds proposed to be issued and all other bonds secured by the same pledged revenues exceed the pledged revenues available for payment of such debt service requirements. The Board does not assume any responsibility for, and makes no warranty (express or implied) with respect to any other aspect of this bond issue except for fiscal determination. (Att. #2)

SBA AGENDA

June 12, 2003

Page two

3. APPROVAL OF FISCAL DETERMINATION OF AN AMOUNT NOT EXCEEDING $6,300,000 TAX EXEMPT FLORIDA HOUSING FINANCE CORPORATION MULTIFAMILY MORTGAGE REVENUE BONDS, 2003 SERIES (SERIES TO BE DESIGNATED) (GRAND COURT AT NORTH PORT APARTMENTS):

(ACTION REQUIRED)

The Florida Housing Finance Corporation has submitted for approval as to fiscal determination a proposal to issue an amount not exceeding $6,300,000 Tax Exempt Florida Housing Finance Corporation Multifamily Mortgage Revenue Bonds, 2003 Series (series to be designated) (the Bonds) for the purpose of financing the construction and equipping of a multifamily residential rental development located in Sarasota County, Florida (Grand Court at North Port Apartments).

4. APPROVAL OF FISCAL DETERMINATION OF AN AMOUNT NOT EXCEEDING $6,200,000 TAX EXEMPT FLORIDA HOUSING FINANCE CORPORATION MULTIFAMILY MORTGAGE REVENUE BONDS, 2003 SERIES (SERIES TO BE DESIGNATED) (SPRING HAVEN APARTMENTS):

(ACTION REQUIRED)

The Florida Housing Finance Corporation has submitted for approval as to fiscal

SBA AGENDA

June 12, 2003

Page three

determination a proposal to issue an amount not exceeding $6,200,000 Tax Exempt Florida Housing Finance Corporation Multifamily Mortgage Revenue Bonds, 2003 Series (series to be designated) (the Bonds) for the purpose of financing the construction and equipping of a multifamily residential rental development located in Hernando County, Florida (Spring Haven Apartments).

5. STATE BOARD OF ADMINISTRATION'S FY 2003-2004 BUDGET:

(ACTION REQUIRED)

The Executive Director requests approval of the SBA's FY 2003-2004 Budget, and other trust fund management activities, including the Special Acquisition Budget, the Florida Hurricane Catastrophe Fund and the Division of Bond Finance Budgets. (Backup to follow)

6. AMENDMENT TO THE PUBLIC EMPLOYEE OPTIONAL RETIREMENT PROGRAM BUDGET FOR FY 2003-2004:

(ACTION REQUIRED)

The Executive Director requests approval of an amendment to the Public Employee Optional Retirement Program's FY 2003-2004 budget, which was approved on March 25, 2003. The amendment provides salary and benefit increases as a result of

SBA AGENDA

June 12, 2003

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legislation passed by the Florida Legislature during the 2003 Legislative Special Session A. (Backup to follow)

7. FLORIDA PREPAID COLLEGE BOARD'S BUDGET FOR FY 2003-2004:

(FOR INFORMATION ONLY)

The Executive Director of the State Board of Administration, on behalf of the Florida Prepaid College Board, presents for information only the Florida Prepaid College Board's FY 2003-2004 Budget, which was approved by the Florida Prepaid College Board on April 2, 2003. (Backup to follow)