Cabinet Affairs

AGENDA DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION (Contact person: J. Ben Watkins III - 488-4782) The Capitol January 28, 1997

1. Approval of minutes of the meeting of December 10, 1996. (Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING $189,840,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, CAPITAL OUTLAY BONDS, 1997 SERIES A.

The proceeds of the bonds will be used to finance capital outlay projects for certain school and community college districts. The resolution also authorizes the Division to publish a notice of bond sale for the bonds, authorizes the preparation and execution of a preliminary and final official statement, and provides certain other details and authorizations in connection with the sale and issuance of the bonds.

The bonds will be payable primarily from motor vehicle license taxes and will additionally be secured by the full faith and credit of the State.

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

(Recommend)

3. ADOPTION OF A RESOLUTION CANCELING THE AUTHORITY FOR THE UNISSUED PORTION OF THE STATE OF FLORIDA, BOARD OF REGENTS UNIVERSITY SYSTEM IMPROVEMENT REVENUE REFUNDING CERTIFICATES, SERIES 1993.

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

(Recommend)

4. REPORT OF AWARD OF $13,120,000 STATE OF FLORIDA, BOARD OF REGENTS, FLORIDA STATE UNIVERSITY HOUSING FACILITY REVENUE BONDS, SERIES 1996, 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. Bids were received at the offices of the Division at 10:30 a.m. on November 26, 1996 and the bonds were awarded to the low bidder, First of America Securities, Inc., which submitted a bid at an annual true interest cost rate of 5.3934%. The bonds were delivered on Thursday, December 19, 1996.

A report of award and tabulation of bids is attached.

(Attachment #2)

5. REPORT OF AWARD OF $17,485,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, CAPITAL OUTLAY BONDS, 1996 SERIES B (REFUNDING BONDS), 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. Bids were received at the office of the Division at 10:30 a.m., December 4, 1996, and the bonds were awarded to the low bidder, Prudential Securities Incorporated which submitted a bid at an annual true interest cost rate of 4.4268%. The bonds were delivered on January 7, 1997.

A report of award and tabulation of bids is attached.

(Attachment #3)