Filing details bond issue of $95.8 million
FAYETTEVILLE — A bond statement published last month describes a $95.8 million bond issue to finance a residence hall and other University of Arkansas, Fayetteville projects.
UA System trustees in May approved the issuance of up to $113 million in bonds.
The bond statement lists a 30-year repayment schedule that adds up to $188.3 million. The bonds are general obligations of the board of trustees and are secured by pledged revenue from sources that include UA tuition and fees.
The Stadium Drive Residence Hall will have three connected buildings with 710 beds, the bond statement says. Trustees approved the approximately $77 million project in November.
Mike Johnson, UA’s assistant vice chancellor for facilities, said in an email construction fencing will go up later this month. Seven other projects were listed as being financed by the bonds.