2004-05 OPERATING BUDGET

  

WHEREAS, The University has issued $40,130,000 of taxable and tax-free municipal bonds which will require a debt service of $1,201,697; and

WHEREAS, The University has determined that the best method of payment of this debt service is to set aside monthly in a separate bank account the necessary funds; therefore, be it

RESOLVED, That the Operating Budget presented by the administration showing total expenses before depreciation of $42,789,090 including wage increases for represented and non-represented employees, is approved; and be it further

RESOLVED, That the University establish a separate bank account for the purpose of servicing this bond debt as needed.

Return to Board of Trustees Resolutions
Return to Board of Trustees