BankShot
The Kleuh Level
See very last of article...
http://www.tribstar.com/news/local_...cle_49e3b8f3-7c0c-5d0e-8576-0c00a2698af6.html
Also, while discussing the HC issue w/ my local House Rep. office, they clarified some of the fog re: State of IN of this project:
In 2015, the budget bill authorized the bonding of $75 million for the Hulman Center Renovation project. The state pledged half of that amount ($37.5 million) for fee replacement. In other words, there is not $37.5 million waiting in an account for the project. Rather, the state is obliged to pay $37.5 million in debt service payments as they become due.
The fiscal staff and the State Budget Agency also confirmed that the authority to issue this $75 million in bonds will exist until the language passed in the 2015 budget is repealed. Furthermore, the 2017 budget passed earlier this year builds in the fee replacement costs of this renovation into the appropriation for Indiana State University.
As far as ISU throwing more $$$ into this, the Rep. stated that ISU can use whatever fund they deem appropriate (as long as it meets the confines of the law) as a match for the project.
Also, it is my understanding that Indiana State University could contribute to the needed matching funds for this project if they choose to do so.
http://www.tribstar.com/news/local_...cle_49e3b8f3-7c0c-5d0e-8576-0c00a2698af6.html
Also, while discussing the HC issue w/ my local House Rep. office, they clarified some of the fog re: State of IN of this project:
In 2015, the budget bill authorized the bonding of $75 million for the Hulman Center Renovation project. The state pledged half of that amount ($37.5 million) for fee replacement. In other words, there is not $37.5 million waiting in an account for the project. Rather, the state is obliged to pay $37.5 million in debt service payments as they become due.
The fiscal staff and the State Budget Agency also confirmed that the authority to issue this $75 million in bonds will exist until the language passed in the 2015 budget is repealed. Furthermore, the 2017 budget passed earlier this year builds in the fee replacement costs of this renovation into the appropriation for Indiana State University.
As far as ISU throwing more $$$ into this, the Rep. stated that ISU can use whatever fund they deem appropriate (as long as it meets the confines of the law) as a match for the project.
Also, it is my understanding that Indiana State University could contribute to the needed matching funds for this project if they choose to do so.