UMass Bond Issue, Yanked at the Last Minute, Now Approved by Gov. Romney

Piazza, Johanna
May 2003
Bond Buyer;5/28/2003, Vol. 344 Issue 31644, p3
Trade Publication
The University of Massachusetts received approval from state governor Mitt Romney's office on May 27, 2003 to proceed with a 133.2 million dollar bond sale. Romney's secretary of administration and finance, Eric Kriss, cited inconsistencies in the school's five-year capital plan as sufficient reason to revoke prior approval for the sale, granted last year by former acting governor Jane Swift. The university agreed to eliminate approximately 240 million dollars of bonds for revenue-generating projects. University officials resubmitted their bonding plans to the governor's office in May, looking for funds for 12 deferred maintenance projects and four new construction projects at the school's Amherst, Boston, Dartmouth, and Lowell campuses.


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