WSU Regents Approve Bond Issue

PULLMAN, Wash. — The Washington State University Board of Regents acted on bonding
and contract issues during its meeting today at the Lewis Alumni Centre on the WSU campus.
Board members approved a resolution issuing $10.2 million in parking system revenue
bonds. The money will be used for the construction of a parking facility in connection with the
new WSU Teaching and Learning Center. The bond issue will be financed through parking
meters, permit fees and other parking revenue. The negotiated sale of the bonds closes Oct. 27.
Greg Royer, vice president for business affairs, reported another large bond issue will be for
more than $17.6 million in housing and dining system revenue bonds. The bond underwriter and
senior manager is Salomon Smith Barney. Approximately $10.3 million will be used in conjunction
with $5 million in state funding to finance the renovation of historic White Hall. The facility will
become Scholars Hall, housing the WSU Honors College. A smaller portion of the money will be
used for the $5 million renovation of McCroskey Hall, which currently serves as the International
In both bond transactions, the university received high ratings on the 25-year parking
system bonds and the 30-year housing/dining system bonds, Royer said.
The board also approved acquisition of a rail contract for coal delivery to the Pullman
Regents also heard a report on the university’s distance education program from Les Purce,
vice president for extended university affairs. Regent Camen Otero reviewed work by the regents’
Academic Affairs Committee through the spring on WSU’s climate and accomplishments in