The Arkansas Higher Education Coordinating Board will hear April 15 a request from the University of Arkansas at Fayetteville for a $132.3 million revenue bond package to finance projects at the main campus.

Trustees approved in January a resolution of intent to issue $141 million of revenue bonds.

Chancellor G. David Gearhart said last week that the authorizing resolution was a high estimate to avoid another vote if project costs exceeded the original plan.

Don Pederson, vice chancellor for finance and administration, said the cost of remodeling of the student union building was reduced by more than $600,000.

In addition, Pederson said, some projects on the original list will be accomplished without bond proceeds.

The bond-financed projects include a new football operations center, renovations to an existing facility that will accommodate the school of architecture and an addition to the geosciences facility, in  addition to renovations to existing dormitories.

The University of Arkansas system’s $1 billion of outstanding facilities revenue debt is rated Aa2 by Moody’s Investors Service. The total indebtedness includes $448.5 million issued for the Fayetteville campus.

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