The State Board of Administration (SBA) of Florida held a meeting at 9:00 a.m. on Tuesday, July 17, 2007, to take action on the Florida Hurricane Catastrophe Fund’s (FHCF) request to expand its liquidity program with pre-event financing by the ...

 

STATE BOARD OF ADMINISTRATION

The State Board of Administration announces a public meeting.

DATE AND TIME:  Tuesday, July 17, 2007, 9:00 a.m.

PLACE: Cabinet Meeting Room, Lower Level, They Capitol, Tallahassee, Florida

GENERAL SUBJECT MATTER TO BE CONSIDERED: The State Board of Administration (SBA) of Florida held a meeting at 9:00 a.m. on Tuesday, July 17, 2007, to take action on the Florida Hurricane Catastrophe Fund’s (FHCF) request to expand its liquidity program with pre-event financing by the Florida Hurricane Catastrophe Fund Finance Corporation.

With Governor Crist presiding, CFO Sink, and Attorney General McCollum present, the State Board of Administration was convened in LL-03, The Capitol. Mr. Coleman Stipanovich, Executive Director of the SBA, Mr. Ben Watkins, Director, Division of Bond Finance, Dr. Jack Nicholson, Senior FHCF Officer, and Mr. John Forney, FHCF Financial Advisor, Raymond James and Associates were also present. The expansion of the Florida Hurricane Catastrophe Fund’s (FHCF) pre-event liquidity program was approved following a brief presentation by John Forney.

Attorney General McCollum also presented a Resolution for a National Catastrophe Insurance Program to maximize the risk-bearing capacity of the private markets; and provide quantifiable risk management through and for the federal government.  The Resolution was approved by the SBA.

The agenda was posted on the SBA website (www.sbafla.com) prior to the meeting date as well as on the Governor and Cabinet website (www.myflorida.com/myflorida/cabinet/).