(Attachment #1)

2. ADOPTION OF 1) THE THIRTY-SECOND SUPPLEMENTAL AUTHORIZING RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $516,300,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 2003 SERIES, AND OF 2) A RESOLUTION AUTHORIZING THE COMPETITIVE SALE AND DELIVERY OF NOT EXCEEDING $300,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 2003 SERIES [TO BE DETERMINED].

The Thirty-second 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 2003 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 $300,000,000 2003 Series B bonds will be the first series of bonds sold pursuant to the Thirty-second Supplemental Authorizing Resolution.

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

(Recommend)

Division of Bond Finance

August 12, 2003

Page Two

3. 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 2003C.

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)  

4. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $600,000,000 STATE BOARD OF EDUCATION LOTTERY REVENUE BONDS, VARIOUS SERIES, FOR THE PURPOSE OF FUNDING PROGRAMS ESTABLISHED BY THE LEGISLATURE TO IMPLEMENT THE CONSTITUTIONAL AMENDMENT REQUIRING CLASS SIZE REDUCTION.

The bonds will be payable from lottery revenues deposited in the Educational Enhancement Trust Fund.  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 capital outlay projects for school districts under the “Classrooms for Kids” and “District Effort Recognition” Programs established by the Legislature to implement the constitutional amendment requiring class size reduction.

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

(Recommend)

5.  REPORT OF AWARD ON COMPETITIVE SALE OF $44,630,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION CAPITAL OUTLAY BONDS, 2003 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 were received at the office of the Division of Bond Finance at 11:00 a.m., July 10, 2003, and the bonds were awarded to the low bidder, Merrill Lynch & Co., Inc., which submitted a bid at an annual true interest cost rate of 3.9558%.  The bonds were delivered on July 29, 2003.

A report of award and tabulation of bids is attached.

(Attachment #2)

6.  REPORT OF AWARD ON THE COMPETITIVE SALE OF $303,945,000 STATE OF FLORIDA, DEPARTMENT OF TRANSPORTATION TURNPIKE REVENUE REFUNDING BONDS, SERIES 2003B, 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 resolution adopted by the Governor and Cabinet.  Bids were received at the office of the Division of Bond Finance at 11:00 a.m., July 24, 2003, and the bonds were awarded to the low bidder, Citigroup Global Markets Inc., which submitted a bid at an annual true interest cost rate of 4.4403%.  The bonds are anticipated to be delivered on Thursday, August 14, 2003.

Assuming the escrow proceeds are invested at the bond yield, which is the maximum permitted rate under federal tax law, the refunding will result in gross savings of $37,040,853 and present value savings of $24,739,348 or 8.12% of the principal amount being refunded.

A report of award and tabulation of bids is attached.

(Attachment #3)