MAGNOLIA, Ark. (AP) - The Southern Arkansas University Board of Trustees has approved a $10 million bond sale that's expected to save the university more than $100,000 annually over the next 20 years.
The bond issue will close by June 30 and will give SAU the capability to pay off a 2003 bond issue, making the university the sole owner of the SAU University Village Apartments. Covenant Group originally financed the facilities and had been leasing the property to the university.
University Village provides apartment-style housing and offers students either a nine-month or 12-month lease.Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.