UA trustees OK bond issue

Raised $109.6M to pay for orthopedic, sports medicine site

FAYETTEVILLE — The University of Arkansas board of trustees approved a $109.6 million bond issue to cover costs associated with a planned orthopedic and sports medicine center near Interstate 49 in Springdale.

University of Arkansas for Medical Sciences Chancellor Dr. Cam Patterson told trustees Thursday that the bond issue will be used to acquire land and pay for construction at a site he described as linked to University of Arkansas, Fayetteville athletics.

“It’s part and parcel of our efforts to provide excellent, world-class care for our Arkansas Razorback student athletes,” Patterson told board members Thursday. UA-Fayetteville in March announced an agreement for UAMS to provide daily medical coverage for the more than 465 athletes in the athletic program.

The 10-member trustees board in March approved construction of a 185,000-squarefoot facility with a project cost of $85 million. A preliminary plan presented in March called for a building with eight operating rooms and four additional “shelled” operating rooms that could be finished at a later date. In July, trustees approved a $13.6 million purchase of approximately 31.2 acres.

Patterson on Thursday thanked Hunter Yurachek, UA-Fayetteville’s athletic director, “for his collaboration in these efforts to also make Northwest Arkansas a national and international destination for sports medicine.”

The bonds are to be payable over 30 years with an interest cost not to exceed 4.5%, according to board documents, and are to be “primarily” used for the orthopedic facility.