October 9, 2008

Public Universities Keep a Wary Eye on the Bond Market

By Karin Fischer

For much of the last decade, the 16 campuses of the University of North Carolina were construction sites, part of an extraordinary building boom spurred, in part, by $3.1-billion in bonds approved by voters for a backlog of repairs and new construction at the state's universities and community colleges.

Relatively low costs of borrowing made issuing multiyear bonds attractive in recent years to college leaders across the country, as well as elected officials and even the

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