2004-05 CAPITAL BUDGET

   

WHEREAS, The University will fund several capital projects from external sources totaling $20,680,000; and

WHEREAS, The University will fund its dormitory construction from tax-free municipal bonds totaling approximately $20,000,000; and

WHEREAS, The University will fund other capital projects of $1,861,800 from its normal University cash flow; therefore, be it

RESOLVED, That capital expenditures of $42,541,800 are approved for fiscal year 2004-05; and be it further

RESOLVED, That the administration is authorized to make capital expenditures in fiscal year 2004-05 that in its judgment are consistent with but not identical to the individual projects included on the schedule presented; and be it further

RESOLVED, That in authorizing these capital expenditures and providing some discretion to the administration, it is the intent of the Board of Trustees that the expenditures be made to improve the living and learning environment of the students of Lincoln University.

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