Cabinet Affairs

1. Approval of minutes of the meeting of April 9, 1996. (Attachment #1)

2. APPROVAL OF A RESOLUTION AUTHORIZING THE DIVISION TO SOLICIT PROPOSALS FOR PROVIDING FINANCIAL ADVISORY SERVICES.

The resolution authorizes the Division to solicit proposals from firms interested in being selected to serve as a financial advisor to the Division, in order to ensure that such services are available when required by the Division.

A copy of the resolution is attached.
(Recommend)
(Attachment #2)

3. REPORT OF AWARD OF $300,000,000 STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION PRESERVATION 2000 REVENUE BONDS, SERIES 1996A, TO THE LOW BIDDER FOR SUCH BONDS.

The Division was authorized to received bids for these bonds, and award them to the low bidder, by a resolution adopted by the Governor and Cabinet on February 27, 1996. Bids were opened at the offices of the Division at 12:00 p.m. on April 10, 1996 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 5.5247%. The bonds were delivered on April 24, 1996.

A report of award and tabulation of bids is attached.

(Attachment #3)

4. REPORT OF AWARD OF $35,000,000 STATE OF FLORIDA, OFFICE OF THE COMPTROLLER, MASTER EQUIPMENT FINANCING AGREEMENT, TO THE LOW BIDDER FOR SUCH AGREEMENT.

The Division of Bond Finance was authorized to receive bids and award the master equipment financing agreement to the low bidder, by a resolution adopted by the Governor and Cabinet on January 23, 1996. Bids were received on March 27, 1996, and the master equipment financing agreement was awarded on April 9, 1996, to the low bidder, G.E. Capital Public Finance, Inc., which submitted a bid resulting in an annual true interest cost rate of 5.2414 percent.

A report of award is attached.
(Attachment #4)