Subject


The Trustees of the State Board of Administration of Florida will be asked for permission to file a Notice of Proposed Rulemaking to amend or repeal the following rules, as applicable: Rule 19-5.001 is being amended incorporate all of the relevant provisions in Rule Chapter 19-5 into Rule 19-5.001. Rule 19-5.001 is also being amended to describe the informal review process conducted by the SBA’s Executive Director after receipt of an application from a governmental unit requesting authority to sell bonds at an interest rate in excess of an otherwise statutory maximum interest rate. Rule 19-5.003 presently describes a slightly different review process for applications to sell bonds in excess of 50 basis points above the otherwise statutory maximum interest rate. That portion of Chapter 19-5 is being deleted. The same process will apply to all applications under this rule. Provisions also are being updated to clarify the types of information that the Executive Director & CIO may consider in conducting the informal review. The rule further clarifies that the authorization to issue bonds at an interest rate in excess of the legal limitation expires 180 days after the authorization has been given. The Trustees also will be asked to authorize the filing of these rules for amendment or repeal, as applicable, if no member of the public timely requests a rule hearing.