arkansas_higher_education_coordinating_board_regul.pdf
SAC Wins Approval for $9.5M Residence Hall Bond Issue
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Description
The Arkansas Higher Education Coordinating Board approved South Arkansas College's plan to issue bonds up to $9.5 million over 30 years at an interest rate of up to 7% to finance construction of the college's first Residence Hall. Debt service will be supported by millage, tuition, and auxiliary revenues, and is compliant with governing board policy.
Contract Details
Contract Amount
Not to exceed $9,500,000
Vendor
SOUTH ARKANSAS COLLEGE
Agency
Arkansas DHE|Arkansas Higher Education Coordinating Board, AR
Contract Type
CONSTRUCTION
Document Date
October 24, 2025
Contract Term
30 years
Renewal Date
2055-10-24
Renewal Info
Bonds may be paid down early if additional trust funds become available. Annual maintenance fund transfer as part of project.
More from SOUTH ARKANSAS COLLEGE
Related Contracts
Issuing Agency
Arkansas DHE|Arkansas Higher Education Coordinating Board
State
Little Rock, AR
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