Ohio University may borrow $585 million to fix buildings

Monday, June 24, 2013

Ohio University trustees know that $585 million is a lot of debt to take on over the next five years.

But interest rates are at historically low levels, they said. And it would be money well-spent if it keeps students, faculty and staff from walking away from the school because so many buildings are in need of major repairs.

“Time’s a-wasting,” Trustee Kevin B. Lake told his colleagues at a meeting yesterday in which the board discussed whether to take on an additional $100 million in debt for a total of $585 million, despite concerns that it could lower the school’s credit rating.

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