Florida Cabinet Meeting Report: November 20, 2008

The Florida Cabinet met on Thursday, November 20, 2008, in Tallahassee, Florida.  Below is a brief overview of pertinent discussions that occurred during the meeting.  To view the complete meeting agenda, click here.

Florida Division of Bond Finance

• The sale of $150 million State of Florida, full faith and credit, State Board of Education Public Education Capital Outlay Bonds, 2008 Series A, to the lowest bidder was approved.
• The adoption of a resolution determining that the negotiated sale of certain bonds may be desirable, authorizing the negotiated sale and selecting underwriters for such bonds, and delegating authority to negotiate the sale of such bonds was approved.

Florida Financial Services Commission, Office of Financial Regulation

• Approval to file amendments to Rule Chapters 69V-40: Mortgage Brokering and Lending, 69V-560: Money Services Businesses, and 69W-600: Securities Regulation for adoption with the Department of State was granted.

Florida Financial Services Commission, Office of Insurance Regulation

• Repeal of Proposed Rule 69N-121.066: Informal Conferences was deferred.
• Publication of Amendments to Proposed Rule 69N-121.066: Informal Conferences was deferred.
• Publication of Proposed Rule 69O-125.005: Use of Credit Reports and Credit Scores by Insurers was deferred.

The Financial Services Commission (“FSC”) deferred consideration of the Office of Insurance Regulation’s  “new” proposed Rule restricting credit scores and another Rule amending an insurer’s right to an informal conference prior to release of a market conduct report.  Commissioner McCarty asked the FSC to defer the items until its next meeting, currently scheduled to be held on December 9, 2008.

Florida Department of Revenue

• Approval to adopt, file and certify with the Secretary of State, proposed amendments to Rule 12B-8.006: State Fire Marshal Regulatory Assessment and Surcharge; Levy and Amount was granted.
• Approval of the Performance Contract for the Executive Director of the Department of Revenue for Fiscal Year (“FY”) 2008-2009 was granted.
• Permission to submit the Department of Revenue’s 2009-2010 Legislative Budget Request to the Executive Office of the Governor and Legislature was granted with one extension.
• Permission to submit the Department of Revenue’s Long-Range Program Plan FY 2009-2010 through 2013-2014 to the Executive Office of the Governor and Legislature was granted.
• Permission to submit the Department of Revenue’s Agency Capital Improvement Program Plan FY 2009-2010 through 2013-2014 to the Executive Office of the Governor and Legislature was granted.
• Permission to submit the Department’s 2009 Proposed Legislative Concepts to the Legislature was granted.

Florida State Board of Administration

• Approval of a Fiscal Determination of an amount not exceeding $8,000,000 Florida Housing Finance Corporation Multifamily Mortgage Revenue Bonds, 2008 Series (To Be Designated Fairview Cove Phase I Apartments) was granted.
• Approval of a Fiscal Determination of an amount not exceeding $6,400,000 Florida Housing Finance Corporation Multifamily Mortgage Revenue Bonds, 2008 Series (To Be Designated Fairview Cove Phase II Apartments) was granted.
• The appointment of M. Campbell Cawood, CFA, as consumer representative, to the Advisory Council of the Florida Hurricane Catastrophe Fund was approved.

Florida Department of Highway Safety and Motor Vehicles

• Final adoption of Rule Chapter 15A-7: Commercial Driver License & Third Party Testing was approved for publication.
• Final adoption of Rules 15B-2.013: Approved Speed Measuring Devices, and 15B-2.016: Tests to Determine Accuracy of Laser Speed Measuring Devices was approved for publication.
• Submission of the First Quarter Performance Report was approved.
• The appointment of Dr. Vicki Erwin-Wilson, Tallahassee, for a four-year term to the Department of Highway Safety and Motor Vehicles’ Medical Advisory Board was approved.
• The appointment of Dr. Andrea L. Randell, Tallahassee, for a four-year term to the Department of Highway Safety and Motor Vehicles’ Medical Advisory Board was approved.

Florida Board of Trustees of the Internal Improvement Trust Fund

• A Land Management Uniform Accounting Council Report on a Methodology and Formula for Allocating Land Management Fundswas approved.
• A 50-year lease to the City of Doral for approximately 5.8 acres located in Miami-Dade County, Florida was approved.
• An option agreement to acquire fourteen, non-contiguous tracts of land consolidated into seven parcels totaling 1,041.08 acres within the Department of Agriculture and Consumer Services’ Division of Forestry’s Blackwater River State Forest Additions and Inholdings project from The Nature Conservancy was approved.
• An option agreement to acquire 54.74 acres within the Florida First Magnitude Springs Florida Forever project from James F. and Elania T. Rakestraw, John B. and Reta A. Rakestraw, and Irma P. Hodnett was approved.
• An option agreement to acquire 35.69 acres within the Wekiva-Ocala Greenway Florida Forever project from Project Orlando, LLC was approved.

The meeting was then adjourned.

 

Should you have any questions or comments, please do not hesitate to contact Colodny Fass.

 

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