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Cabinet
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AGENDA DIVISION OF BOND FINANCE OF THE STATE BOARD OF
ADMINISTRATION
(Contact person: J.
Ben Watkins III - 488-4782)
The Capitol
August 26, 2003
This meeting is open to the
public. 1.
Approval of minutes of the
meeting of August 12, 2003. (Attachment
#1) 2. ADOPTION OF A RESOLUTION AUTHORIZING THE
ISSUANCE AND COMPETITIVE SALE OF NOT EXCEEDING $180,000,000 STATE OF
FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION FLORIDA FOREVER REFUNDING
BONDS, SERIES [TO BE DETERMINED]. 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 refund certain outstanding Preservation 2000
bonds. Copies of the
resolution may be obtained from the Division of Bond Finance upon
request. (Recommend)
3.
ADOPTION OF A RESOLUTION
AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $300,000,000 STATE OF
FLORIDA, FULL FAITH AND CREDIT, DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY
ACQUISITION AND BRIDGE CONSTRUCTION BONDS, SERIES
2003A. The bonds will be
payable primarily from motor fuel and special fuel taxes, and will
additionally be secured by the full faith and credit of the State of
Florida. The Bonds will be
issued 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) 4.
ADOPTION OF A RESOLUTION
AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $16,800,000 STATE OF
FLORIDA, FLORIDA EDUCATION SYSTEM, FLORIDA STATE UNIVERSITY PARKING
FACILITY REVENUE BONDS, SERIES 2003B. The bonds will be
payable from the revenues of the parking system at the University. 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 a parking garage at the University.
Copies of the
resolution may be obtained from the Division of Bond Finance upon
request. (Recommend) Division of Bond
Finance August 26,
2003 Page
Two 5.
ADOPTION OF A RESOLUTION
AUTHORIZING THE DIVISION OF BOND FINANCE TO ISSUE A REQUEST FOR PROPOSALS
FOR UNDERWRITERS AND BOND
COUNSEL IN CONNECTION WITH THE DEPARTMENT OF TRANSPORTATION STATE
INFRASTRUCTURE BANK BONDS. During the 2003
legislative session, the Division of Bond Finance was authorized to sell
bonds to provide funding for the Department of Transportation State
Infrastructure Bank revolving loan program. The State Infrastructure Bank was
created in section 339.55, Florida Statutes, to provide loans to local
governments to finance transportation facilities. The bonds being issued to provide
additional funding for the revolving loan program will be secured by loan
repayments from the local government
borrowers. It is anticipated the
bonds will be sold through negotiated sale based upon an analysis of the
merits of a competitive versus negotiated
sale. Copies of the
resolution may be obtained from the Division of Bond Finance upon
request. (Recommend) 6.
REPORT OF AWARD ON COMPETITIVE
SALE OF $200,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD
OF EDUCATION PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 2002 SERIES D, 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 11:00 a.m. on August 7, 2003, and the
bonds were awarded to the low bidder, Merrill Lynch & Co., which
submitted a bid at an annual true interest cost rate of 4.8308%. The bonds will be delivered on
August 28, 2003. A report of award and
tabulation of bids is attached. (Attachment
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