The Florida Cabinet on Tuesday authorized the sale of $586.6 million of public education capital outlay bonds that will be secured by gross receipts taxes and a pledge of the state’s full faith and credit. No date for the competitive sale has been announced.

The Cabinet, which oversees the day-to-day affairs of the state, consists of Gov. Charlie Crist, Attorney General Bill McCollum, Chief Financial Officer Alex Sink, and Charles Bronson, commissioner of the Department of Agriculture and Consumer Services.

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