Youngstown State may increase size of bond issue

YOUNGSTOWN — The economic downturn hitting the nation may mean an upturn in campus improvement projects at Youngstown State University.

The interest rates on borrowing money through the bond market have apparently dropped to the point where the YSU Board of Trustees is considering expanding the size and scope of a $40 million bond issue the university plans to borrow in December or early 2009.

The issue could go to $50 million or more.

The matter came up at a trustee’s Finance and Facilities Committee meeting, and, although specific rates weren’t discussed, members of the board suggested now might be the time to consider expanding the improvement project list.

The cost of borrowing $50 million at lower rates might not be much different than the cost of borrowing $40 million before the market dropped, said Scott Schulick, trustee chairman.

Read more in Saturday’s Vindicator and Vindy.com