FINANCIAL_SERVICESAPPROVED

Westfield State University Board of Trustees Special Meeting Agenda Packet May 2026

MSCBA bond approved for residence hall IT upgrades

$2,000,000 (project fund not to exceed $2,500,000)Westfield State UniversityMASSACHUSETTS STATE COLLEGE BUILDING AUTHORITYMay 12, 2026

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Description

Westfield State University will borrow $2 million through the Massachusetts State College Building Authority to modernize residence hall information technology infrastructure, with repayment over 10 years beginning in FY27. The bond proceeds will fund network equipment upgrades across multiple residence halls and associated capitalized interest and issuance costs.

Contract Details

Contract Amount

$2,000,000 (project fund not to exceed $2,500,000)

Vendor

MASSACHUSETTS STATE COLLEGE BUILDING AUTHORITY

Agency

Westfield State University, MA

Contract Type

FINANCIAL_SERVICES

Document Date

May 12, 2026

Contract Term

Bond issuance dated June 16, 2026, amortization over 10 years with debt service through 06/30/2036

Renewal Date

2036-06-30

Renewal Info

One-time tax-exempt bond issuance for IT infrastructure; no renewal terms indicated. Net debt service of approximately $2.39 million is scheduled through June 30, 2036.

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