University of Minnesota to be first university in nation to use new financial tool created by economic stimulus package

Source: .umn.edu Posted By: Peter 5734 days ago

MINNEAPOLIS / ST. PAUL (04/10/2009) — The University of Minnesota is the first university in the nation to use a new financial mechanism that will save the university money as it borrows for capital projects. The new tool came about from the nation’s economic stimulus package.

Next week, the U of M will issue $85 million in general obligation bonds, $35 million of which are expected to be issued as Build America Bonds, which were authorized under the America Recovery and Reinvestment Act. Build....

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