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TSSBA approves $16 million financing for MTSU Floyd Stadium west grandstand renovation
Summary
The Tennessee State School Bond Authority approved Middle Tennessee State University’s request for $16 million in TSSBA financing to replace part of Floyd Stadium’s West Grandstand and associated systems. The 30-year financing will be repaid from athletics fees; the board voted unanimously.
The Tennessee State School Bond Authority on July 21 approved Middle Tennessee State University’s request for $16,000,000 in TSSBA financing to renovate a portion of Floyd Stadium, including replacement of part of the West Grandstand, related electrical and lighting work, and a fire sprinkler system.
The financing request, presented by Bill Waits, assistant vice president of campus planning at MTSU, and Drew Harpool, interim vice president for business and finance at MTSU, asks the authority to provide a 30-year loan. MTSU will contribute $500,000 in plant funds toward the project; the university requested $16,000,000 from the TSSBA. The estimated annual…
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