Cabinet
Affairs |
AGENDA
Meeting of the
STATE BOARD OF ADMINISTRATION
The Capitol
October 24, 1995
1. Approval of minutes of meeting held on October 12, 1995.
(Att. #1)
2. APPROVAL OF FISCAL SUFFICIENCY OF NOT TO EXCEED $10,800,000
FLORIDA HOUSING FINANCE AGENCY, MULTI-FAMILY HOUSING REVENUE
BONDS, 1995 SERIES (BANYAN BAY APARTMENTS):
The Division of Bond Finance of the State Board of
Administration (the "Division), on behalf of and in the name
of the Florida Housing Finance Agency, has submitted for
approval as to fiscal sufficiency a proposal to issue Not to
Exceed $10,800,000 Florida Housing Finance Agency, Multi-
family Housing Revenue Bonds, 1995 Series (Banyan Bay
Apartments), (the "Bonds.")
The proceeds of the Bonds will be used to finance the costs
of constructing a multi-family residential project to be
located in Leon County, Florida. 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 are payable as to
principal, premium (if any), and interest solely out of
revenues and other amounts pledged therefor.
RECOMMENDATION: A study of this proposal and of estimates
of revenue and other available monies expected to accrue
indicate that the issue is fiscally sufficient, and the
Executive Director recommends that the Board approve the
fiscal sufficiency thereof. It is further recommended that,
pursuant to the fiscal sufficiency 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.
(Att. #2)
3. APPROVAL OF FISCAL SUFFICIENCY OF AN ISSUE OF NOT TO EXCEED
$9,450,000 FLORIDA HOUSING FINANCE AGENCY MULTI-FAMILY
HOUSING REVENUE REFUNDING BONDS, 1995 SERIES (VINYARD AT
CHARDONNAY APARTMENTS, PHASES I AND II):
The Division of Bond Finance of the State Board of
Administration (the "Division"), on behalf of and in the name
of Florida Housing Finance Agency, has submitted for approval
as to fiscal sufficiency a proposal to issue Not to Exceed
$9,450,000 Florida Housing Finance Agency Multi-Family Housing
Revenue Refunding Bonds, 1995 Series (Vinyard at
Chardonnay Apartments, Phase I and II) (the "Bonds"), for the
purpose of refunding all of the outstanding Florida Housing
Finance Agency Multi- Family Housing Revenue Bonds, 1983
Series B-G and 1985 Series UU.
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 are payable as to principal, premium (if any), and
interest solely out of revenues and other amounts pledged
therefor.
RECOMMENDATION: A study of this proposal and of estimates of
revenue and other available monies expected to accrue
indicate that the issue is fiscally sufficient, and the
Executive Director recommends that the Board approve the
fiscal sufficiency thereof. It is further recommended that,
pursuant to the fiscal sufficiency requirements of
Subsection 16c 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. (Att. #3)
4. APPROVAL OF FISCAL SUFFICIENCY OF NOT TO EXCEED $7,300,000
FLORIDA HOUSING FINANCE AGENCY, MULTI-FAMILY HOUSING REVENUE
BONDS, 1995 SERIES (BAINBRIDGE CLUB PROJECT):
The Division of Bond Finance of the State Board of
Administration (the "Division"), on behalf of the Florida
Housing Finance Agency, has submitted for approval as to
fiscal sufficiency a proposal to issue Not to Exceed
$7,300,000 Florida Housing Finance
Agency Multi-Family Housing Revenue Refunding Bonds, 1995
Series (Bainbridge Club Project), (the "Bonds.")
The proceeds of the Bonds will be used to finance the
development of a 172 unit apartment project to be
located in Leon County, Florida. 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
are payable as to principal, premium (if any), and
interest solely out of revenues and other amounts
pledged therefor.
RECOMMENDATION: A study of this proposal and of estimates
of revenue and other available monies expected to accrue
indicate that the issue is fiscally sufficient, and the
Executive Director recommends that the Board approve the
fiscal sufficiency thereof. It is further recommended that,
pursuant to the fiscal sufficiency 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. (Att. #4)
5. REPORTS BY THE EXECUTIVE DIRECTOR:
Submitted for information and review are the investment
performance and fund balance analysis for the month of
September 1995. (Att. #5)
