More details on funding & timeline for the new Honors building

honors-concept-drawing

  • funding: public universities issuing agency bonds (not state funding)
  • “Robbin Taylor, WKU’s vice president for Public Affairs, said in an email she believes the General Assembly previously declined to include the agency bond projects in the budget largely because of concerns about the state’s overall debt capacity.”
  • The 2013 Kentucky General Assembly (state legislature) still has to approve the agency bond plan to authorize WKU (and other public universities in KY) to sell bonds to finance the project
  • “Mead [WKU’s Chief Financial Officer] said that design work will take much of 2013 and she does not anticipate the bonds being sold until 2014.”
  • “The annual cost of the bonds will be funded from growth in tuition revenue from international students enrolling at WKU through the Navitas Program,” Mead said.

(Source: Beshear announces agency bond plan, includes Honors College & International Center, Taylor Harrison, WKU Herald, Jan 11, 2013)

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