AGENDA
MEETING OF THE
STATE BOARD OF ADMINISTRATION
(Contact Person: Dorothy Westwood - 488-4406)
THE CAPITOL
OCTOBER 13, 1998
1. Approval of minutes of meeting held on September 23, 1998. (Att. #1)
2. APPROVAL OF FISCAL DETERMINATION OF AN AMOUNT NOT EXCEEDING $18,000,000
FLORIDA HOUSING FINANCE CORPORATION HOUSING REVENUE BONDS, 1998 SERIES (ONE
OR MORE SERIES TO BE DESIGNATED) (ASHLEY LAKE PARK II APARTMENTS PROJECT):
The Florida Housing Finance Corporation has submitted for approval as to fiscal
determination a proposal to issue an amount Not Exceeding $18,000,000 Florida
Housing Finance Corporation Housing Revenue Bonds, 1998 Series (one or more
series to be designated) (the "Bonds") for the purpose of refunding the outstanding
Florida Housing Finance Agency Multifamily Housing Revenue Bonds, Series 1985
Series W (Ashley Lake Park II Apartments Project) (Palm Beach County, Florida).
The Bonds shall not constitute an obligation, either general or special, of
the State or of any local government thereof; neither the State nor any local
government thereof shall be liable thereon. Neither the full faith, revenue,
credit nor taxing power of the State of Florida, or any local governments thereof
shall be pledged to the payment of the principal of, premium (if any), or interest
on the Bonds. The Bonds shall be payable as to principal, premium (if any),
and interest solely out of revenues and other amounts pledged therefor.
RECOMMENDATION: A study of this proposal and of estimates of revenue and other
available moneys expected to accrue indicate that the issue meets the requirements
for the fiscal determination required by Section 420.509, Florida Statutes,
as stated in Article VII, Subsection 16(c) of the revised Constitution of 1968,
and the Executive Director recommends that the State Board of Administration
of Florida (the "Board") approve the fiscal determination thereof. It is further
recommended that, pursuant to the fiscal determination requirements of Subsection
16(c) of Article VII of the revised Constitution of 1968, the Board find and
determine that in no State fiscal year will the debt service requirements of
the Bonds proposed to be issued and all other bonds secured by the same pledged
revenues exceed the pledged revenues available for payment of such debt service
AGENDA
October 13, 1998
Page 2
requirements. The Board has relied upon information from others but has not
independently verified the accuracy or completeness of such information. The
Board does not assume any responsibility for, and makes no warranty (express
or implied) with respect to any other aspect of this bond issue except for fiscal
determination. (Att. #2)
3. APPROVAL OF FISCAL DETERMINATION OF AN AMOUNT NOT EXCEEDING $17,565,000
FLORIDA HOUSING FINANCE CORPORATION HOUSING REVENUE BONDS, 1998 SERIES (ONE
OR MORE SERIES TO BE DESIGNATED) (OAKS AT MILL CREEK APARTMENTS PROJECT):
The Florida Housing Finance Corporation has submitted for approval as to fiscal
determination a proposal to issue an amount Not Exceeding $17,565,000 Florida
Housing Finance Corporation Housing Revenue Bonds, 1998 Series (one or more
series to be designated) (the "Bonds") for the purpose of refunding the outstanding
Florida Housing Finance Agency Multifamily Housing Revenue Bonds, Series 1985
Series OO (Oaks at Mill Creek Apartments Project) (Duval County, Florida).
The Bonds shall not constitute an obligation, either general or special, of
the State or of any local government thereof; neither the State nor any local
government thereof shall be liable thereon. Neither the full faith, revenue,
credit nor taxing power of the State of Florida, or any local governments thereof
shall be pledged to the payment of the principal of, premium (if any), or interest
on the Bonds. The Bonds shall be payable as to principal, premium (if any),
and interest solely out of revenues and other amounts pledged therefor.
RECOMMENDATION: A study of this proposal and of estimates of revenue and other
available moneys expected to accrue indicate that the issue meets the requirements
for the fiscal determination required by Section 420.509, Florida Statutes,
as stated in Article VII, Subsection 16(c) of the revised Constitution of 1968,
and the Executive Director recommends that the State Board of Administration
of Florida (the "Board") approve the fiscal determination thereof. It is further
recommended that, pursuant to the fiscal determination requirements of Subsection
16(c) of Article VII of the revised Constitution of 1968, the Board find and
determine that in no State fiscal year will the debt service requirements of
the Bonds proposed to be issued and all other bonds secured by the same pledged
revenues exceed the pledged revenues available for payment of such debt service
requirements. The Board has relied upon information from others but has not
independently verified the accuracy or completeness of such information. The
Board does not assume any responsibility for, and makes no warranty (express
or implied)
AGENDA
October 13, 1998
Page 3
with respect to any other aspect of this bond issue except for fiscal determination.
(Att. #3)
4. APPROVAL OF FISCAL DETERMINATION OF AN AMOUNT NOT EXCEEDING $13,660,000
FLORIDA HOUSING FINANCE CORPORATION HOUSING REVENUE BONDS, 1998 SERIES (ONE
OR MORE SERIES TO BE DESIGNATED) (VILLAGE PLACE APARTMENTS PROJECT):
The Florida Housing Finance Corporation has submitted for approval as to fiscal
determination a proposal to issue an amount Not Exceeding $13,660,000 Florida
Housing Finance Corporation Housing Revenue Bonds, 1998 Series (one or more
series to be designated) (the "Bonds") for the purpose of refunding the outstanding
Florida Housing Finance Agency Multifamily Housing Revenue Bonds, Series 1985
Series LL (Village Place Apartments Project) (Palm Beach County, Florida).
The Bonds shall not constitute an obligation, either general or special, of
the State or of any local government thereof; neither the State nor any local
government thereof shall be liable thereon. Neither the full faith, revenue,
credit nor taxing power of the State of Florida, or any local governments thereof
shall be pledged to the payment of the principal of, premium (if any), or interest
on the Bonds. The Bonds shall be payable as to principal, premium (if any),
and interest solely out of revenues and other amounts pledged therefor.
RECOMMENDATION: A study of this proposal and of estimates of revenue and other
available moneys expected to accrue indicate that the issue meets the requirements
for the fiscal determination required by Section 420.509, Florida Statutes,
as stated in Article VII, Subsection 16(c) of the revised Constitution of 1968,
and the Executive Director recommends that the State Board of Administration
of Florida (the "Board") approve the fiscal determination thereof. It is further
recommended that, pursuant to the fiscal determination requirements of Subsection
16(c) of Article VII of the revised Constitution of 1968, the Board find and
determine that in no State fiscal year will the debt service requirements of
the Bonds proposed to be issued and all other bonds secured by the same pledged
revenues exceed the pledged revenues available for payment of such debt service
requirements. The Board has relied upon information from others but has not
independently verified the accuracy or completeness of such information. The
Board does not assume any responsibility for, and makes no warranty (express
or implied) with respect to any other aspect of this bond issue except for fiscal
determination. (Att. #4)
AGENDA
October 13, 1998
Page 4
5. REPORTS BY THE EXECUTIVE DIRECTOR:
Submitted for information and review are the investment performance and fund
balance analysis for the month of August 1998. (Att. #5)
Cabinet
Affairs