DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

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

The Capitol

September 23, 1998

This meeting is open to the public.

1. Approval of minutes of the meeting of September 9, 1998.

(Attachment #1)

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

EXCEEDING $250,000,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE

BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 1997

SERIES B.

The bonds will be payable primarily from gross receipts taxes, and will be additionally secured

by the full faith and credit of the State. The proceeds of such bonds will be used to finance

capital outlay projects for school and community college districts and the State university

system. The bonds will be the second series of bonds sold pursuant to the Twelfth Supplemental

Authorizing Resolution adopted on June 26, 1997.

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

(Recommend)

3. ADOPTION OF (1) THE SIXTEENTH SUPPLEMENTAL AUTHORIZING RESOLUTION TO

THE MASTER AUTHORIZING RESOLUTION ADOPTED ON JULY 21, 1992,

AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $600,000,000 STATE OF

FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC

EDUCATION CAPITAL OUTLAY REFUNDING BONDS, 1998 SERIES D AND (2) A

RESOLUTION AUTHORIZING THE COMPETITIVE SALE OF NOT EXCEEDING

$600,000,000 OF THE BONDS.

The Sixteenth Supplemental Authorizing Resolution supplements the Public Education Capital

Outlay Bond Master Resolution adopted by the Division of Bond Finance on July 21, 1992, and

contains the authorization for bonds necessary to refinance a portion of certain outstanding

Public Education Capital Outlay Bonds. The bonds will be payable primarily from gross receipts

taxes, and will be additionally secured by the full faith and credit of the State.

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

(Recommend)

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

EXCEEDING $250,000,000 STATE OF FLORIDA, STATE BOARD OF EDUCATION

LOTTERY REVENUE BONDS, SERIES 1998C.

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.

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

(Recommend)

Division of Bond Finance

Page-Two September 23, 1998

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

EXCEEDING $100,000,000 DEPARTMENT OF MANAGEMENT SERVICES, FLORIDA

FACILITIES POOL REVENUE BONDS, SERIES 1998B.

The bonds will be secured by the revenues derived by the Department of Management Services

from the leasing of buildings to State agencies. The bonds will not be secured by the full faith

and credit of the State. The proceeds of the bonds will be used to provide a portion of the

acquisition and construction costs of facilities for the Departments of Children and Families and

Health in Tallahassee, and to refund various outstanding Florida Facilities Pool Revenue bond

issues.

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

(Recommend)

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

EXCEEDING $29,140,000 STATE OF FLORIDA, BOARD OF REGENTS, FLORIDA

INTERNATIONAL UNIVERSITY HOUSING FACILITY REVENUE BONDS, SERIES 1998.

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 at the University.

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

(Recommend)

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

OF MATURITY OF THE STATE OF FLORIDA, DIVISION OF BOND FINANCE,

UNIVERSITY OF WEST FLORIDA HOUSING SYSTEM REVENUE BONDS OF 1972.

The bonds were issued by the Division of Bond Finance and the proceeds were utilized by the

University of West Florida to construct student housing facilities at the University. The

University 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)

8. REPORT OF AWARD OF $200,000,000 STATE OF FLORIDA, STATE BOARD OF

EDUCATION LOTTERY REVENUE BONDS, SERIES 1998B, TO THE LOW BIDDER FOR

SUCH BONDS.

Division of Bond Finance

Page Three September 23, 1998

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., September 1, 1998, and the bonds were

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

cost rate of 4.7151%. The bonds were delivered on September 22, 1998.

A report of award and tabulation of bids is attached.

(Attachment #2)