AGENDA DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION The Capitol November 29, 1995 1. Approval of minutes of the meeting of October 24, 1995. (Attachment #1) 2. ADOPTION OF A FIFTH SUPPLEMENTAL AUTHORIZING RESOLUTION AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $242,695,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, CAPITAL OUTLAY BONDS, 1996 SERIES A, PURSUANT TO ARTICLE XII, SECTION 9(D0 OF THE FLORIDA CONSTITUTION, SECTION 215.61, FLORIDA STATUTES, THE MASTER RESOLUTION ADOPTED BY THE GOVERNOR AND CABINET ON FEBRUARY 4, 1992, AND OTHER APPLICABLE LAW. These bonds will be payable primarily from motor vehicle license taxes and will be additionally secured by the full faith and credit of the State. The proceeds of these bonds will be used to finance capital outlay projects for school districts and community colleges, as indicated in the Fifth Supplemental Authorizing Resolution of the State Board of Education. Copies of the resolution may be obtained from the Division of Bond Finance upon request. (Recommend) 3. REPORT OF AWARD OF $255,400,000 STATE OF FLORIDA, FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION, PUBLIC EDUCATION CAPITAL OUTLAY BONDS, 1994 SERIES C, 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 resolutions adopted by the Governor and Cabinet on May 24, 1994, and September 28, 1995. Bids were received at the offices of the Division of Bond Finance on October 24, 1995, and the bonds were awarded to the low bidder, Morgan Stanley & Co., Inc., which submitted a bid at an annual true interest cost rate of 5.6221 percent. The bonds were delivered on November 14, 1995. A report and tabulation of bids is attached. (Attachment #2) Division of Bond Finance Page Two-November 29, 1995 4. REPORTS OF AWARD OF BONDS ISSUED ON BEHALF OF THE FLORIDA HOUSING FINANCE AGENCY. (a) THE $94,650,000 FLORIDA HOUSING FINANCE AGENCY, HOMEOWNER, MORTGAGE REVENUE BONDS, 1995 SERIES 1A AND 1995 SERIES 1B (RE FUNDING ISSUE) AND 1995 SERIES 2 (REFUNDING/NEW MONEY ISSUE). Pursuant to resolutions of the Governor and Cabinet sitting as the Governing Board of the Division of Bond Finance, adopted on April 13, 1993 and September 14,1995, the Division of Bond Finance on October 24, 1995 negotiated the sale of the bonds to a syndicate led by Merrill Lynch & Co., at a true interest cost rate of 5.87 percent. The bonds were delivered on November 2, 1995. The report of award is attached. (Attachment #3) (b) THE FLORIDA HOUSING FINANCE AGENCY, $12,920,000 HOUSING REVENUE BONDS, 1995 SERIES G1 AND $480,000 TAXABLE HOUSING REVENUE BONDS, 1995 SERIES G2 (BRITTANY OF ROSEMONT PHASE II APARTMENTS PROJECT). Pursuant to resolutions of the Governor and Cabinet sitting as the Governing Board of Division of Bond Finance, adopted on September 12, 1991 and Septembe14,1995, the Division of Bond Finance on October 26, 1995 negotiated the sale of the bonds to a syndicate led by Lehman Brothers, at the true interest cost rate of 6.176 percent. The bonds were delivered on November 14, 1995. The report of award is attached. (Attachment #4) (c) THE $8,490,000 FLORIDA HOUSING FINANCE AGENCY, HOUSING REVENUE BONDS, 1995 SERIES E (WILLIAMSBURG VILLAGE APARTMENTS PROJECT). Pursuant to resolutions of the Governor and Cabinet sitting as the Governing Board of the Division of Bond Finance, adopted on September 12, 1991, and September 14, 1995, the Division of Bond Finance on October 26, 1995, negotiated the sale of the bonds to a syndicate led by Alex. Brown & Sons, Incorporated at a true interest cost rate of 5.90 percent. The bonds were delivered on November 16, 1995. The report of award is attached. (Attachment #5)