Lawmakers could vote as early as tomorrow on whether to grant the University of Oregon permission to sell $200 million of state-backed bonds to finance the construction of a new basketball arena.
Two bills relating to the project appeared to have broad support, according to the Oregonian. Gov. Ted Kulongoski would then have 30 days to sign the bills.
If the university is allowed to sell debt, it will get a boost from Nike Inc. co-founder Phil Knight, who has pledged a $100 million athletic department legacy fund under the condition that bonds will also be a part of the financing.