Click here to MyFlorida Home Page  
Clear Dot Image Cabinet Affairs
AGENDA
DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION
(Contact person: J. Ben Watkins III - 488-4782)
The Capitol
October 22, 1996

1. Approval of minutes of the meeting of October 8, 1996. (Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $7,780,000 STATE OF FLORIDA, BOARD OF REGENTS, FLORIDA AGRICULTURAL AND MECHANICAL UNIVERSITY STUDENT SERVICES CENTER REVENUE BONDS, SERIES 1997, TO FINANCE THE CONSTRUCTION OF A STUDENT SERVICES CENTER AT FLORIDA AGRICULTURAL AND MECHANICAL UNIVERSITY.

The bonds will be secured by a pledge of the student services center revenues, after deducting certain expenses. The facilities in the student services center are expected to include a cafeteria, bookstore and copy center. The bonds will not be secured by the full faith and credit of the State of Florida.

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 $3,605,000 STATE OF FLORIDA, BOARD OF REGENTS, FLORIDA AGRICULTURAL AND MECHANICAL UNIVERSITY PARKING FACILITY REVENUE BONDS, SERIES 1997, TO FINANCE THE CONSTRUCTION OF A PARKING FACILITY AT FLORIDA AGRICULTURAL AND MECHANICAL UNIVERSITY.

The bonds will be secured by a pledge of the parking system revenues, after deducting certain expenses. The bonds will not be secured by the full faith and credit of the State of Florida.

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

(Recommend)

4. ADOPTION OF A RESOLUTION AUTHORIZING THE PUBLIC (COMPETITIVE) SALE OF NOT EXCEEDING $13,385,000 STATE OF FLORIDA, BOARD OF REGENTS, FLORIDA STATE UNIVERSITY HOUSING FACILITY REVENUE BONDS, SERIES 1996.

The proceeds of the bonds will be used to finance the remodeling and renovation of two student housing facilities on the campus of the Florida State University located in Tallahassee, Florida and to pay certain costs associated with the issuance of the bonds, which will be issued by the Division on behalf of the Board of Regents. The resolution also authorizes the Division to prepare and publish a notice of bond sale for the bonds; authorizes the preparation and execution of a preliminary and a final official statement; amends the resolution of November 17, 1992, as amended and supplemented, pursuant to which the outstanding Series 1993 and Series 1994 Bonds were issued, to add several housing facilities to the University's housing system; and provides certain other details and authorizations in connection with the sale and issuance of the bonds.

The bonds will be secured by a pledge of the net housing system revenues as set forth in resolutions adopted November 17, 1992 and July 23, 1996. The bonds will not be secured by the full faith and credit of the State of Florida.

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

(Recommend)

5. ADOPTION OF A SEVENTH SUPPLEMENTAL AUTHORIZING RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $189,840,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, CAPITAL OUTLAY BONDS, 1997 SERIES A, PURSUANT TO ARTICLE XII, SECTION 9(D) OF THE FLORIDA CONSTITUTION, SECTION 215.61, FLORIDA STATUTES, THE MASTER RESOLUTION ADOPTED BY THE GOVERNOR AND CABINET ON FEBRUARY 4, 1992, AND OTHER APPLICABLE LAW.

These bonds will be payable primarily from Motor Vehicle License Taxes and will be additionally secured by the full faith and credit of the State. The proceeds of these bonds will be used to finance capital outlay projects for school and community college districts, as indicated in the Seventh Supplemental Authorizing Resolution of the State Board of Education.

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

(Recommend)

6. REPORT OF AWARD OF $250,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 1996 SERIES A, TO THE LOW BIDDER FOR SUCH BONDS.

The Division of Bond Finance was authorized to receive bids for these bonds, and award them to the low bidder, by resolutions adopted by the Governor and Cabinet on July 23, 1996. Bids were received at the offices of the Division of Bond Finance on September 26, 1996, and the bonds were awarded to the low bidder, Merrill Lynch & Co., which submitted a bid at an annual true interest cost rate of 5.5725 percent. The bonds were delivered on October 17, 1996.

A report and tabulation of bids is attached.