SEMO regents approve $58M bond issue
Thursday, December 9, 2010
CAPE GIRARDEAU, Mo. (AP) — The Board of Regents at Southeast Missouri State University has approved a plan to issue $58 million in bonds to pay for maintenance and renovations throughout the Cape Girardeau campus.
At a meeting Wednesday, the board also approved a gradual increase in student fees to pay off the bonds.
KFVS-TV reports the bond issue will fund improvements to several buildings and help pay for deferred maintenance. Some of the money will pay to convert the campus power plant to natural gas.
The bonds will be paid off partly through a gradual increase of general student fees, reaching a maximum of $5 per credit hour in 2014. The increase was endorsed by the Student Government Association.