A-State Board of Trustees discusses funding, new minors
Published: Monday, September 23, 2013
Updated: Monday, September 23, 2013 13:09
The ASU System Board of Trustees approved a resolution Friday to allow ASU to finance continued improvements to the Jonesboro campus through the issuance of bonds with a maximum initial loan amount of $27.7 million.
The funds are to be dedicated to the completion of the Humanities and Social Sciences Building (Liberal Arts Building) and the construction of a new student activities center, according to ASU Board of Trustees Resolution 13-29.
“The dollar amounts represented here are the maximum estimate (of what the system will require),” said Charles Welch, ASU System president.
According to the resolution, $15.7 million will be directed to the continued construction on the Humanities and Social Sciences Building.
Twelve million will be dedicated to the finance of the acquisition, construction, furnishing, and equipping of a student activities center, according to the resolution.
The bonds will mature on Dec. 1, 2043. Maximum interest will not exceed 5.90 percent for the Humanities and Social Sciences Building bonds and 6.50 percent for the student activities center bonds.
The resolution was passed unanimously and with no discussion.
The Board of Trustees also approved a resolution to restructure and rename the College of Education. The new name will be the College of Education and Behavioral Science, according to ASU Jonesboro Resolution 13-32.
“That college has been undergoing a number of changes in an effort to become more efficient,” Welch said. “We want the name to be more representative of the college.”
The passed resolution will also form the new School of Teacher Education and Leadership by combining the Departments of Educational Leadership, Curriculum and Special Education (ELCSE) and Teacher Education, according to the executive summary.
No additional funding will be required to implement the restructuring of the college.
ASUJ is also now authorized to offer three new minors through the recently renamed College of Media and Communication.
Approved resolutions 13-33 through 13-35 create new minors in Creative Media Production, Multimedia Journalism and Strategic Communications, respectively.
Each minor will require 19 hours of coursework, according to executive summaries.
The next Board of Trustees meeting will be Dec. 6 at the ASU - Mountain Home campus.