CWU Governing Board To Consider System Revenue Bonds

May 24, 2004

Contact: Mark Anderson (509-963-1493/fax 509-963-2301/e-mail: andemark@cwu.edu)

ELLENSBURG, Wash.-- Central Washington University's board of trustees (BOT) will conduct a special telephonic board meeting Wednesday, May 26, at 1:30 p.m., in Barge 410 on the Ellensburg campus, to take action on a pair of bond resolutions in connection with the offer and sale of university system revenue bonds.

The bonds will be used to finance construction of the university's new student union building/recreation center (SUB/REC) and renovation of Sue Lombard Hall.

The first resolution would approve amendments to the "Master Resolution" (Resolution No. 02-03) adopted on May 10, 2002.

The second resolution would approve the Series 2004 Bonds, detailing the terms and conditions of those bonds, including bond insurance provisions. It also would approve the bond purchase agreement with Lehman Brothers and authorize its execution.

The university's governing board previously reviewed those documents during meetings March 12 and May 7.

For more information about the special BOT meeting, or for persons of disability to arrange reasonable accommodations, call (509) 963-1493, or (for the hearing impaired) TDD (509) 963-2143.

As scheduled, the new CWU recreation center will open in January 2006 and the student union building three months later. The Lombard remodel is expected to be completed in time for the 2005-06 academic year.