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February 12, 2002 BSU FOUNDATION�S REFINANCING OF BONDS SAVES STATE $900,000 A second refinancing of the bonds used in 1988 to build Boise State University�s Engineering/Technology Building will result in a savings of almost $900,000 to the state of Idaho, the BSU Foundation announced. The bonds, which are secured by a lease agreement with the university and the State Board of Education, were initially refinanced in 1991 resulting in savings to the state of $240,000. The recent refinancing will result in an additional savings of $653,000, the Foundation said. �In addition to providing a first-class academic facility for our outstanding engineering students, the Foundation is pleased that its fiscal management has resulted in a savings of almost $900,000,� said Allen Dykman, president of the BSU Foundation board of directors. �This is especially true in this current economic environment.� The Engineering/Technology Building, located in Boise State�s engineering complex, was the first academic building in the Treasure Valley devoted to the high-tech field of study. The BSU Foundation was established in 1964 as a nonprofit corporation devoted entirely for the benefit of Boise State. Its mission is to raise funds and support the university�s academic programs and to manage all private funds donated to the university. Contact: Media contact: |