fy26_all_funds_budget.pdf
Board Approves $27.3M BOLD Project Bond Financing
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Description
Salem State University authorized Massachusetts State College Building Authority to issue $27.3 million in bonds for the BOLD campus modernization project, with repayment over 30 years.
Contract Details
Contract Amount
$27,300,000 (BOLD capital project bond issuance; total project cost)
Vendor
MASSACHUSETTS STATE COLLEGE BUILDING AUTHORITY
Agency
Salem State University, MA
Contract Type
FINANCIAL_SERVICES
Document Date
May 21, 2025
Contract Term
30 years (Anticipated bond issuance October 2025 – February 2026, repayment through 2055)
Renewal Date
2055-06-30
Renewal Info
One-time bond issuance, not subject to annual renewal. Debt service commitment continues for 30 years.
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