The Governor and Cabinet - Florida Department of State

Cabinet Affairs

AGENDA

DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION
(Contact person: J. Ben Watkins III - 488-4782)
The Capitol
June 13, 1996

1.

Approval of minutes of the meeting of May 29, 1996.

(Attachment #1)

2.

REPORT OF AWARD OF $11,185,000 STATE OF FLORIDA, BOARD OF REGENTS, FLORIDA AGRICULTURAL AND MECHANICAL UNIVERSITY STUDENT APARTMENT FACILITY REVENUE BONDS, SERIES 1996, TO THE LOW BIDDER FOR SUCH BONDS.

The Division was authorized to receive bids for these bonds, and award them to the low bidder, by resolutions adopted by the Governor and Cabinet on September 28, 1995 and March 28, 1996. Bids were opened at the offices of the Division at 11:00 a.m. on May 30, 1996 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 5.7682%. The bonds are scheduled to be delivered on June 13, 1996.

A report of award and tabulation of bids is attached.

(Attachment #2)

3.

ADOPTION OF RESOLUTIONS AUTHORIZING THE NEGOTIATED SALE OF THE FOLLOWING HOUSING REVENUE BONDS ON BEHALF OF AND AT THE REQUEST OF THE FLORIDA HOUSING FINANCE AGENCY (THE "AGENCY"):

(A) Not to exceed $5,850,000 Florida Housing Finance Agency Housing Revenue Bonds, 1996 Series [to be designated] (Praxis of Deerfield Beach, Phase III Project).
(B) Not to exceed $7,405,000 Florida Housing Finance Agency Housing Revenue Bonds, 1996 Series [one or more series to be designated] (Spinnaker Cove Apartments Project).

The Agency has requested the sale of the bonds for the purpose of financing multifamily residential housing projects. The bonds will not constitute an obligation, either general or special, of the state or of any local government.

Pursuant to Section 420.509 (7)(a), Florida Statutes, the Agency is permitted to authorize the negotiated sale of bonds if it is determined that it is in the best interest of the Agency. The Agency has made the determination that a negotiated sale of the bonds is in the best interest of the Agency.

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

(Recommend)

4.

PRESENTATION BY THE FLORIDA HOUSING FINANCE AGENCY OF THE COMPETITIVE VS. NEGOTIATED WORKSHOPS SUMMARY.