DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

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

The Capitol

March 24, 1998

1. Approval of minutes of the meeting of February 24,1998.

(Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT

EXCEEDING $300,000,000 STATE OF FLORIDA, DEPARTMENT OF ENVIRONMENTAL

PROTECTION, PRESERVATION 2000 REVENUE BONDS, SERIES 1998B.

The bonds will be payable primarily from revenues of certain excise taxes on documents required

to be transferred to the Land Acquisition Trust Fund. The bonds will not be secured by the full

faith and credit of the State of Florida. The proceeds of the bonds will be used to finance the

acquisition of land in furtherance of outdoor recreation and natural resources conservation.

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

(Recommend)

3. ADOPTION OF A RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT

EXCEEDING $2,785,000 STATE OF FLORIDA, BOARD OF REGENTS, UNIVERSITY OF

SOUTH FLORIDA, HOUSING FACILITY REVENUE BONDS, SERIES 1998

(SARASOTA/NEW COLLEGE CAMPUS PROJECT).

The bonds will be payable primarily from revenues of the University's housing system. The

bonds will not be secured by the full faith and credit of the State of Florida. The proceeds of the

bonds will be used to finance a residence hall on the University's Sarasota/New College campus.

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

(Recommend)

4. REPORT OF AWARD OF $301,705,000 STATE OF FLORIDA, FULL FAITH AND CREDIT,

STATE BOARD OF EDUCATION, CAPITAL OUTLAY BONDS, 1998 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 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., March 4, 1998, and the bonds were

awarded to the low bidder, Salomon Smith Barney, which submitted a bid at an annual true

interest cost rate of 4.9663 percent. The bonds were delivered on March 18, 1998.

A report of award and tabulation of bids is attached.

(Attachment #2)

Division of Bond Finance

March 24, 1998

Page2

5. REPORT OF AWARD OF $233,615,000 STATE OF FLORIDA, DEPARTMENT OF

TRANSPORTATION, TURNPIKE REVENUE BONDS, SERIES 1998A, 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 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., March 11, 1998, and the bonds were

awarded to the low bidder, Lehman Brothers, which submitted a bid at an annual true interest

cost rate of 5.1359%. The bonds are anticipated to be delivered on Wednesday, March 25, 1998.

A report of award and tabulation of bids is attached.

(Attachment #3)