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Cabinet
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AGENDA DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION (Contact person: J. Ben Watkins III - 488-4782)
The Capitol
May 12, 1998 1. Approval of minutes of the meeting of April 28, 1998.
(Attachment #1) 2. ADOPTION OF A RESOLUTION AMENDING THE RESOLUTION OF THE
GOVERNOR
AND CABINET AS THE GOVERNING BOARD OF THE DIVISION OF BOND
FINANCE
ADOPTED ON DECEMBER 16, 1997, AND AMENDED ON APRIL 28, 1998,
WHICH
AUTHORIZED THE ISSUANCE OF STATE OF FLORIDA, STATE BOARD OF
EDUCATION LOTTERY REVENUE BONDS (VARIOUS SERIES). The bonds will be payable primarily from revenues of the Florida
Lottery. The bonds are not
secured by the full faith and credit of the State. The proceeds
of the bonds will be used to
finance capital outlay projects for school districts. The
amendments implement certain
covenants regarding future gaming revenues and conditions
for reducing contributions to the
Educational Enhancement Trust Fund. Copies of the resolution may be obtained from the Division
of Bond Finance upon request. (Recommend) 3. REPORT OF AWARD OF $300,000,000 STATE OF FLORIDA, DEPARTMENT
OF
ENVIRONMENTAL PROTECTION, PRESERVATION 2000 REVENUE BONDS,
SERIES
1998B, 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 11:15 a.m., April
22, 1998, and the bonds were
awarded to the low bidder, Lehman Brothers, which submitted
a bid at an annual true interest
cost rate of 4.7945%. The bonds are anticipated to be delivered
on May 13, 1998. A report of award and tabulation of bids is attached. (Attachment #2) 4. REPORT OF AWARD OF $2,785,000 STATE OF FLORIDA, BOARD OF
REGENTS,
UNIVERSITY OF SOUTH FLORIDA, HOUSING FACILITY REVENUE BONDS,
SERIES
1998 (SARASOTA/NEW COLLEGE CAMPUS PROJECT), 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 12:00 noon, April
29, 1998, and the bonds were
awarded to the low bidder, Salomon Smith Barney Inc., which
submitted a bid at an annual true
interest cost rate of 5.2273%. The bonds are anticipated to
be delivered on May 20, 1998. A report of award and tabulation of bids is attached. (Attachment #3)