(Contact person:  J. Ben Watkins III - 488-4782)

The Capitol

October 14, 2003

This meeting is open to the public.

1.Approval of minutes of the meeting of August 26, 2003.

       (Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $200,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 2001 SERIES J.

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 bonds will be the sixth and final series of bonds sold pursuant to the Twenty-second Supplemental Authorizing Resolution.

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 $270,000,000 STATE OF FLORIDA, DEPARTMENT OF TRANSPORTATION TURNPIKE REVENUE BONDS, SERIES 2003C.

The bonds will be payable from tolls and other revenues of the Florida Turnpike System.  The bonds will not be secured by the full faith and credit of the State.  Proceeds of the bonds will be used to finance the acquisition of various Turnpike projects.

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 $200,000,000 STATE OF FLORIDA, STATE BOARD OF EDUCATION LOTTERY REVENUE BONDS, VARIOUS SERIES.

The bonds will be payable from revenues of the Florida Lottery.  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)

Division of Bond Finance

October 14, 2003

Page Two

5.     ADOPTION OF A RESOLUTION AUTHORIZING THE DIVISION OF BOND FINANCE TO  ISSUE A REQUEST FOR PROPOSALS FOR FINANCIAL ADVISORS.

A selection committee will rank respondent firms and make a recommendation of such firms to the governing board of the division.  The selected firms will act as financial advisors to the Division of Bond Finance on an as needed basis.

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

(Recommend)

6. REPORT OF AWARD ON COMPETITIVE SALE OF $35,285,000 STATE OF FLORIDA, FLORIDA EDUCATION SYSTEM, FLORIDA ATLANTIC UNIVERSITY HOUSING REVENUE BONDS, SERIES 2003, TO THE LOW BIDDER FOR SUCH BONDS.

Bids were received at the office of the Division of Bond Finance at 11:00 a.m. on August 20, 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 4.5993%.  The bonds were delivered on September 9, 2003.

Of the $35,285,000 bonds sold, $20,885,000 (59%) will be used to finance the construction of a student housing complex on the Boca Raton campus, while $14,400,000 (41%) will be used to refund certain outstanding bonds.  The refunding will result in gross debt service savings of approximately $1,100,000, average annual debt service savings of approximately $59,000 and present value debt service savings of approximately $788,000.

A report of award and tabulation of bids is attached.

(Attachment #2)

7.     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, 2003 SERIES B, TO THE LOW BIDDER FOR SUCH BONDS.

Bids were received at the office of the Division of Bond Finance at 11:00 a.m. on September 10, 2003, and the bonds were awarded to the low bidder, Bear, Stearns & Co. Inc., which submitted a bid at an annual true interest cost rate of 4.7546%.  The bonds were delivered on October 1, 2003.

A report of award and tabulation of bids is attached.

(Attachment #3)

Division of Bond Finance

October 14, 2003

Page Three

8.     REPORT OF AWARD ON THE COMPETITIVE SALE OF $142,985,000 STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION FLORIDA FOREVER REVENUE BONDS, SERIES 2003C TO THE LOW BIDDER FOR SUCH BONDS.

Bids were received at the office of the Division of Bond Finance at 11:00 a.m., September 17, 2003, and the bonds were awarded to the low bidder, Morgan Stanley & Co. Incorporated, which submitted a bid at an annual true interest cost rate of 4.1788%.   The bonds were delivered on October 8, 2003.

A report of award and tabulation of bids is attached.

(Attachment #4)

9.     REPORT OF AWARD ON COMPETITIVE SALE OF $300,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY ACQUISITION AND BRIDGE CONSTRUCTION BONDS, SERIES 2003A, TO THE LOW BIDDER FOR SUCH BONDS.

Bids were received at the office of the Division of Bond Finance at 11:00 a.m. on September 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 4.6660%.  The bonds will be delivered on October 22, 2003.

A report of award and tabulation of bids received is attached.