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News Release

Office of the Chancellor
P.O. Box 751
Portland, OR 97207
FAX (503) 725-5709
PHONE (503) 725-5700
http://www.ous.edu

   

July 16, 1999            

Contact:     Bob Bruce, 503-725-5714

$98 Million Bond Sale Targets Capital Additions, Improvements

COOS BAY - The Oregon University System will seek to issue more than $98 million in state bonds to finance new construction and capital repair facilities at Oregon's seven public universities.

The Oregon State Board of Higher Education approved the bond resolution Friday. Pending legislative and gubernatorial approval of bond authorization, that action will allow the respective projects to be covered in the sale of State of Oregon obligation bonds this fall.

The OUS bonds will support both new construction and repair. Some $28.2 million, issued as Article XI-G projects, will provide $11.596 million for academic modernization and repair across Oregon University System campuses. Other designated projects include $500,000 for planning and design of a new Natural Resources and Health Sciences building at Eastern Oregon University, La Grande; $5.6 million for construction of the new Center for Visual Arts at Southern Oregon University, Ashland; $4.77 million to complete construction of a new library at Western Oregon University, Monmouth; and $5.7 million for renovation of Gilbert and Grayson Halls at the University of Oregon.

More than $70.695 million will be issued as self-funded Article XI-F bonds. About $9 million of that total will help to finance campus master plan updating, support code and other repair work and finance construction of small projects throughout the system. An additional $20.47 million will be used to remodel Buxton Hall, improve student family housing and replace the domestic water system in Sackett Hall at Oregon State University, Corvallis.

At Portland State University, $39.56 million in bond sale proceeds will be used to acquire and remodel the University Center building, complete the Department of Environmental Quality labs, plan and design long-range improvements to Smith Memorial Center, and add to student housing. And $1.6 million will be used for the U of O's Gilbert Hall project and for the student recreation facility.

In other actions Friday, the State Board:

- Approved Oregon State University's request to purchase a .264 acre parcel adjoining the campus to be added to OSU's Orchard Court family housing complex. The University seeks up to 12 additional housing units on the site.

- Authorized negotiation of a long-term lease agreement for the Central Oregon University Center. The 20-year lease will be for office, classroom and laboratory space in a new building now under construction on the campus of Central Oregon Community College in Bend.

- Okayed a plan to acquire the University Center Building for Portland State University. PSU currently leases a portion of the building. It will purchase the building for $5.2 million and execute a 24-year ground lease for the property on which it is constructed. The acquisition will address campus needs for general classroom, office and parking space.

- Accepted proposals to offer a new bachelor's degree in information technology at Oregon Institute of Technology, and two new graduate education certificates at the University of Oregon.

- Authorized Eastern Oregon University to award an honorary doctoral degree to Native American artist James Lavadour at its 1999 honors convocation.
 

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