BoT approves bond refinancing, could yield more than $740,000 savings

A resolution to refinance 2003 series student housing revenue bonds was approved unanimously at a special UNA board of trustees executive committee meeting Aug. 10.  The approval could save the university $742, 980.

The savings, generated by lower interest rate financing on the bonds, will be accompanied by the university’s ability to release $736, 111 of previously reserved money from a savings account required to meet the terms of the 2003 bonds.

The university’s newfound savings will be used for capital projects, including the upcoming academic commons building.

Stick with The Flor-Ala for more developments.