Cabinet Affairs

AGENDA

DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

(Contact person: J. Ben Watkins III - 488-4782)

The Capitol

May 13, 1997

1. Approval of minutes of the meeting of April 29, 1997.

(Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING REDEMPTION PRIOR TO THE DATE OF

MATURITY, OF THE STATE OF FLORIDA, FULL FAITH AND CREDIT, LIBERTY COUNTY

ROAD BONDS, DATED DECEMBER 1, 1979.

The bonds were issued by the Division of Bond Finance of behalf of Liberty County. Liberty County

wishes to redeem the bonds prior to maturity. The resolution will authorize such redemption, as

provided for in the documents authorizing the bonds, at a date to be determined by the State Board

of Administration.

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

(Recommend)

3. ADOPTION OF THE FOLLOWING RESOLUTIONS ON BEHALF OF AND AT THE

REQUEST OF THE FLORIDA HOUSING FINANCE AGENCY (THE "AGENCY"):

(A) A resolution authorizing the negotiated sale of not exceeding $9,000,000 Florida Housing

Finance Agency Housing Revenue Bonds, 1997 Series [one or more series to be designated] (Glen

Oaks Apartments Project).

(B) A resolution authorizing the competitive sale of not exceeding $15,750,000 Florida Housing

Finance Agency Housing Revenue Bonds, 1997 Series [one or more series to be designated]

(Windchase Apartments Project).

(C) A resolution authorizing the competitive sale of not exceeding $14,650,000 Florida Housing

Finance Agency Housing Revenue Bonds, 1997 Series [one or more series to be designated] (The

Reserve at Kanapaha Apartments Project).

(D) A resolution authorizing the competitive sale of not exceeding $9,400,000 Florida Housing

Finance Agency Housing Revenue Bonds, 1997 Series [one or more series to be designated] (The

Reserve at Northshore Apartments Project).

The Agency has requested the issuance and sale of these bonds to finance multifamily residential

housing projects.

None of the bonds will 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 described in (A) is in the best interest

of the Agency.

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

(Recommend)

Division of Bond Finance

Page Two-May 13, 1997

4. REPORT OF SALE OF $300,000,000 STATE OF FLORIDA, DEPARTMENT OF

ENVIRONMENTAL PROTECTION, PRESERVATION 2000 REVENUE BONDS, SERIES

1997A, TO THE LOW BIDDER FOR SUCH BONDS.

The Division of Bond Finance was authorized to received bids for these bonds, and award them to

the low bidder, by a resolution adopted by the Governor and Cabinet. Bids were received at the

office of the Division of Bond Finance at 11:00 a.m. on April 22, 1997 and the bonds were awarded

to the low bidder, Smith Barney Inc., which submitted a bid at an annual true interest cost rate of

5.3776%. The bonds were delivered on May 6, 1997.

A report of sale and tabulation of bids is attached.

(Attachment #2)