Cabinet Affairs

1. Approval of minutes of the meeting of November 19, 1996.

(Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $65,000,000 STATE OF FLORIDA, DEPARTMENT OF TRANSPORTATION, ALLIGATOR ALLEY REVENUE BONDS, SERIES 1997, TO FINANCE THE CONSTRUCTION OF IMPROVEMENTS TO ALLIGATOR ALLEY.

The bonds will be secured by a pledge of the net revenues of Alligator Alley, 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)

3. ADOPTION OF RESOLUTIONS 1) AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $220,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, JACKSONVILLE TRANSPORTATION AUTHORITY SENIOR LIEN REFUNDING BONDS, SERIES 1997, AND 2) AUTHORIZING THE PUBLIC (COMPETITIVE) SALE OF SUCH BONDS.

The authorizing resolution provides that proceeds of the bonds will be used to refund all or a portion of certain outstanding bonds of the Jacksonville Transportation Authority.

The bonds will be secured primarily from the interlocal agreement payments derived from the receipts of a discretionary sales surtax levied in Duval County pursuant to Section 212.055(1), Florida Statutes, and additionally from the gasoline tax funds accruing to Duval County under the provisions of Section 9(c) of Article XII of the Florida Constitution. The bonds will additionally be secured by the full faith and credit of the State of Florida.

The authorizing resolution also amends the original resolution to permit the substitution of a reserve account credit facility in lieu of cash or securities in the reserve account subsequent to the issuance of a series of bonds.

The sale resolution provides for a competitive sale of the bonds, the printing of the preliminary and final official statements regarding the bonds, designates a bond registrar, paying agent and transfer agent for the bonds, and provides certain other details and authorizations in connection with the sale, issuance and delivery of the bonds. The bonds may be issued in one or more series and shall contain such series designation for each series as may determined by the Director of the Division and communicated in the notice of bond sale for such series.

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

(Recommend)

4. ADOPTION OF A RESOLUTION 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"):

Not exceeding $11,290,000 Florida Housing Finance Agency Housing Revenue Bonds, 1996 Series [to be designated] (Heron Park Project).

The Agency has requested the sale of the bonds for the purpose of financing a multifamily residential rental housing project. 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 resolution may be obtained from the Division of Bond Finance upon request.

(Recommend)