RUSSELLVILLE, Ark. (August 16, 2007)--The Arkansas Tech University Board of Trustees approved a bond issue for student housing during its regular monthly meeting on Thursday at the Ross Pendergraft Library and Technology Center.
The bond issue is in regard to Campus Court, which was purchased by the university last year to help address its pressing need for additional student housing. Previously known as the Kings Inn Motel, the facility was purchased by Arkansas Tech University through its unrestricted educational and general unappropriated fund following approval by the Board of Trustees on May 18, 2006.
The board’s action on Thursday allows the university to charge the land value of Campus Court ($500,000) as a university investment and issue revenue bonds in an amount of $2 million to repay the unrestricted educational and general unappropriated fund.
In addition, the Board of Trustees authorized the university to use excess funds of $144,603 from the bond issue for other critical housing maintenance and to submit a feasibility study to the Arkansas Department of Higher Education Coordinating Board for their approval to issue the bonds.
Also during Thursday’s meeting, the board granted approval to a Letter of Notification, which will be sent to Arkansas Department of Higher Education, informing the ADHE that Arkansas Tech plans to offer more than 50 percent of its Master of Science in Emergency Management and Homeland Security degree via distance learning.
“Many students who pursue this degree are in full-time jobs and need the flexibility of online courses,” said Dr. Jack Hamm, vice president for academic affairs.
Board of Trustees Vice Chairman William R. “Bud” Harper, who recently represented Arkansas Tech at an emergency management conference in China, said that the addition of more online courses would only strengthen Tech’s Emergency Administration and Management (EAM) Department.
“Tech is on the cutting edge of emergency management education,” said Harper, a former director of the Arkansas Department of Emergency Management. “These types of programs are growing all over America, and I believe that Arkansas Tech has the finest program of its kind in the country.”
In other business during Thursday’s meeting, the Board of Trustees:
*Approved a new contract policy for the university, whereby all contracts involving Arkansas Tech University must be reviewed by university counsel and signed by the president of the university or the president’s designee;
*Approved 2007-08 parking regulations for the Russellville campus;
*Approved the university’s financial statements for the fiscal year ending June 30, 2007;
*Received an update from President Dr. Robert C. Brown and Vice President for Administration and Finance David Moseley on various campus improvement projects, including renovations to Turner Hall, an addition to Chambers Cafeteria, construction of Baswell Hall, renovations to the university’s football stadium (Buerkle Field), a future addition to McEver Hall and the future construction of a new academic advising center.
