Cabinet Affairs

AGENDA

MEETING OF THE

STATE BOARD OF ADMINISTRATION

(Contact Person: Dorothy Westwood - 488-4406)

THE CAPITOL

June 10, 1997

1. Approval of minutes of meeting held on May 28, 1997. (Att. #1)

2. APPROVAL OF FISCAL SUFFICIENCY OF NOT EXCEEDING $65,000,000 STATE OF FLORIDA, DEPARTMENT OF TRANSPORTATION ALLIGATOR ALLEY REVENUE BONDS, SERIES 1997:

The Division of Bond Finance of the State Board of Administration (the "Division"), on behalf of the Department of Transportation, has submitted for approval as to fiscal sufficiency a proposal to issue an amount Not Exceeding $65,000,000 State of Florida, Department of Transportation Alligator Alley Revenue Bonds, Series 1997 (the "Bonds") for the purpose of financing, together with other available moneys, improvements to the portion of Interstate 75 known as Alligator Alley. The governing Board of the Division adopted the Authorizing Resolution for the proposed bonds on December 10, 1996.

A study of this proposal and the estimates of revenue expected to accrue from the pledged revenues indicate that the proposed bonds are fiscally sufficient and that the proposal will be executed pursuant to the applicable provisions of law.

RECOMMENDATION: It is recommended that the Board approve the fiscal sufficiency of the proposal outlined above. (Att. #2)

3. SBA BUDGET FOR FISCAL YEAR 1997/1998:

The Executive Director recommends approval of a proposed Operating Budget for fiscal year 1997/1998 for the Florida Hurricane Catastrophe Fund that was deferred at the May 28, 1997 meeting.

4. INLAND PROTECTION FINANCING CORPORATION:

The Inland Protection Financing Corporation requests that the Trustees, in their capacities as directors, hold a Board of Directors meeting of the Inland Protection Financing Corporation. This Corporation was created in Section 376.2075(a) by House Bill 1127 during the 1996 legislative session. A board meeting is necessary to discuss Item No. 6 from the November 19, 1996 meeting agenda. (Exhibit 1)

AGENDA

MEETING OF THE INLAND PROTECTION FINANCING CORPORATION

The Capitol

June 10, 1997

The Inland Protection Financing Corporation requests that the Trustees, in their capacities as directors, hold a Board of Directors meeting of the Inland Protection Financing Corporation. This Corporation was created in Section 376.2075(a) by House Bill 1127 during the 1996 legislative session. A board meeting is necessary to discuss Item No. 6 from the November 19, 1996 meeting agenda.

1. The Executive Director will call Virginia Wetherell, Secretary of the Department of Environmental Protection, and Keith Carswell, Chairman of the Black Business Investment Board, to the podium and requests the Governor to call the Board of Directors meeting of the Corporation to order.

2. All the members of the Board of Directors being present, motion and second that the Board of Directors take the following action:

a. Approve selection of Trustee/Bond Registrar/Paying Agent.

b. Direction to the Secretary to set out this action in the Minutes of the Corporation.

3. There being no further business, motion and second, and adjourn the meeting.

EXHIBIT 1