The Governor and Cabinet - Florida Department of State

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

The Capitol

December 16, 2003

This meeting is open to the public.

1. Approval of minutes of the meeting of November 25, 2003.

(Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE [jgr1] COMPETITIVE SALE OF NOT EXCEEDING $100,000,000 STATE OF FLORIDA, DEPARTMENT OF ENVIRONMENTAL PROTECTION, FLORIDA FOREVER REVENUE BONDS, SERIES 2004A.

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)

3. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $8,000,000 STATE OF FLORIDA, FLORIDA EDUCATION SYSTEM, UNIVERSITY OF CENTRAL FLORIDA STUDENT HEALTH CENTER REVENUE BONDS, SERIES 2004A.

The bonds will be payable from the student health fee charged to students 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 the construction of student health center facilities on the campus of the University.

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

4. REPORT OF AWARD ON THE COMPETITIVE SALE OF $200,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 2001 SERIES J, TO THE LOW BIDDER FOR SUCH BONDS.

Bids were received at the office of the Division of Bond Finance at 12:00 noon on November 18, 2003, and the bonds were awarded to the low bidder, J.P. Morgan Securities, Inc., which submitted a bid at an annual true interest cost rate of 4.5864%. The bonds are scheduled to be delivered on December 16, 2003.

A report of award and tabulation of bids is attached.

(Attachment #2)

5. REPORT OF AWARD ON THE COMPETITIVE SALE OF $15,645,000 STATE OF FLORIDA, FLORIDA EDUCATION SYSTEM, FLORIDA STATE UNIVERSITY PARKING FACILITY REVENUE BONDS, SERIES 2003B, 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 December 3, 2003, and the bonds were awarded to the low bidder, William R. Hough & Co., which submitted a bid at an annual true interest cost rate of 4.0705%. The bonds are scheduled to be delivered on December 18, 2003.

6. ADOPTION OF A RESOLUTION SELECTING 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 are being issued to provide additional funding for the revolving loan program and will be secured by loan repayments from the local government borrowers.

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

7. ADOPTION OF A RESOLUTION SELECTING UNDERWRITERS IN CONNECTION WITH THE DEPARTMENT OF TRANSPORTATION STATE INFRASTRUCTURE BANK BONDS.

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.

The Division of Bond Finance is required to prepare and deliver to its governing board and the legislative leadership a debt affordability report containing the information required by 215.98, Florida Statutes. The 2003 Debt Affordability Report satisfies the requirements of 215.98, Florida Statutes.