University Letterhead

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{Current Date}

{UNIVERSITY LETTERHEAD}

MEMORANDUM

to:Chris Kinsley

Director, Finance and Facilities

State University System of Florida

Board of Governors

from:

subject:{University Name}’s Report on the Sale of Debt approved by the Board of Governorsfor {Project Name}.

(This report is not required for debt issued through the Division of Bond Finance)

date:{Current Date}

In accordance with the Board of Governors Debt Management Guidelines, {University Name} is submitting the following report on the sale of debt for {Project Name}, Series {Series Number(s)}. This project was approved by the Board ofGovernors at their meeting on {Date of Board Meeting}. Delivery Date of the debt was {Delivery Date}.

1. Indicate the type of sale (competitive/negotiated/private placement).

1. Indicate the type of financing (bonds/COPS/bank loan).

1. Indicate the amount of debt approved and the amount of debt actually issued (list each series of debt separately and indicate whether debt is tax exempt or taxable; if both tax exempt and taxable debt was issued, indicate what portion of the debt is tax exempt and what portion of the debt is taxable.)

1. Indicate the all-in true interest cost rate on the debt, and whether the interest rate is fixed or variable and how it compares to the rate estimate provided to the Board for approval.

1. Provide a final debt service schedule (or estimated debt service schedule for variable rate debt or debt where the interest rate is subject to adjustment) for the new debt, as well as an aggregate schedule if issued on parity. Includea comparison of the final debt service schedule to the debt service schedule for the new debt that was provided to the Board when requesting approval.

See Attached Exhibits ___

1. Provide an itemized list of all actual fees and expenses incurred on the transaction, including legal fees, compared to estimated fees and expenses disclosed to the Boardwhen the transaction was approved.

1. For negotiated sales, disclose the following:

1. The underwriters’ spread detailing the following(include a comparison of actuals to the estimates disclosed to the Board when the transaction was approved):

1. the management fee;

1. takedown by maturity and aggregate takedown;

1. any risk component; and

1. an itemized list of the expense component;

1. Orders placed by each underwriter and final bond allocation;

1. Total compensation received by each underwriter; and

1. Any report or opinion of the financial advisor.

1. Provide a copy of the Final Official Statement for publicly offered bonds.

See Attached Exhibit ___

1. Identify any bond insurance or any other form of credit enhancement and the terms thereof, including cost.

1. Indicate all ratings received on the transaction from credit rating agencies and provide copies of all credit rating reports.

Standard & Poor’s –

Moody’s –

Fitch –

See Attached Exhibit(s) ___

Attachments