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Regents approve University of Iowa bond sales for Memorial Union, health‑sciences building and parking
Summary
The Iowa Board of Regents approved three University of Iowa bond resolutions after municipal advisor Elizabeth Bergman reported favorable bid results; one regent recorded a dissent on the Memorial Union bond.
The Iowa Board of Regents voted to approve three University of Iowa bond resolutions after municipal advisor Elizabeth Bergman of Baker Tilly reported favorable market results for the sales.
Bergman told the board that the Memorial Union revenue bond sale produced a winning bid from Baird at a true interest cost of 4.50% and that the board received three bids. The Regents approved a resolution authorizing $34,300,000 in Iowa Memorial Union revenue bonds (Series SUI 2025); Regent Barker recorded the only No vote on that resolution.
Bergman reported that the facilities‑corporation bonds — the final tranche for the health‑sciences academic facility — also received three bids and that Baird was the winning bidder at a true interest cost of 4.58%. The board approved a resolution authorizing $34,630,000 in University of Iowa Facilities Corporation revenue bonds (Series 2025) by roll call vote.
On the parking bonds, Bergman said six bids were received and that Wells Fargo submitted the winning bid at an interest rate reported in the meeting as 4.54%. The board approved a parking‑system revenue refunding bonds resolution; the transcript contains a numeric formatting error in the printed motion text for the bond amounts, and the motion language in the record should be consulted for final numeric details.
A motion to enter closed session under Iowa law preceded these votes earlier in the meeting. The board cited Iowa Code section 21.5(1)(i) for performance evaluations and Iowa Code section 21.5(1)(c) for strategy with counsel in litigation. The board approved the closed session motion by roll call and later reconvened in open session.
Votes at a glance: the Memorial Union revenue bond resolution passed with a single No from Regent Barker; the facilities‑corporation revenue bond resolution passed unanimously by roll call; the parking revenue refunding bond resolution passed by roll call. The transcript records roll calls and the presiding officer’s confirmation that each motion was approved.
