(AUSTIN) – The Texas State University System sold more than $86 million in bonds yesterday to fund campus construction projects at Texas State University-San Marcos and Sam Houston State University. Proceeds from the sale, including $6 million in bond premium, totaled $92.7 million.
Projects at Texas State University-San Marcos supported by the bond proceeds include partial funding of a performing arts center, the north side expansion of Bobcat Stadium, construction of a parking garage, and infrastructure projects related to the performing arts center and water treatment facilities. Sam Houston State University will also receive funding from the bond sale to build instructional facilities at the university’s new satellite campus in The Woodlands.
“Texas State University-San Marcos and Sam Houston State University are two of the fastest growing universities in Texas,” said TSUS Chancellor Brian McCall. “I’m pleased that we will be able to address some of the facilities needs of our institutions and students, while taking advantage of historically low interest rates.”
The all-inclusive rate on the debt package is 4.35%. The Texas State University System sold $65.7 million in bonds last August at an all-inclusive interest rate of 4.26%.
The Texas State University System is Texas’ oldest and third-largest university system, comprising eight universities and colleges stretching from the Big Bend Region to the Louisiana border.