MSU board to vote on $15M bond resolution

The Missouri State University Board of Governors today is scheduled to vote on issuing up to $15 million in bonds.

MSU Chief Financial Officer Steve Foucart said the resolution would authorize his office to issue auxiliary enterprise system revenue bonds - designated for university improvements - to reimburse the school for costs related to plans to roughly double the size of Taylor Health and Wellness Center. He said the the governing board is likely to approve the resolution.

Earlier this year, students approved a fee of $29 per semester starting in fall 2017 to expand the center to 37,800 square feet from 16,000. The new building would be constructed on the current Taylor Health site just northeast of Plaster Student Union.

Foucart said the student fee would fully pay for the expansion. The bonds, which likely would be issued in summer 2016, would pay back MSU for expenses paid prior to the full collection of the student fee money.

“I would not expect we would borrow the maximum,” he said, declining to disclose the expansion project’s cost.  

The board’s executive committee last month voted to hire St. Louis-based Hastings & Chivetta Architects Inc. as the designer of the project. Foucart said contractor bids would be solicited in the summer.