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IHL board approves $70M bond for Southern Miss, $39M Ellucian contract and several medical and consulting agreements
Summary
Trustees approved a $70 million bond resolution for the University of Southern Mississippi (half for Reed Green Coliseum renovations), a 10‑year $39 million Ellucian software subscription for the University of Mississippi, and grouped medical/procurement agreements for UMMC and system procurement consulting. Recusals were recorded for specific trustees.
The Mississippi Institutions of Higher Learning board approved major financial actions on April 16, including a request from the University of Southern Mississippi to issue a $70,000,000 bond offering and a University of Mississippi software subscription agreement with Ellucian.
Board staff summarized the $70 million offering for Southern Miss: $35 million will fund renovations at Reed Green Coliseum and $35 million was described as a new portion of the resolution intended to refund prior series bonds. The financial advisor’s report (dated April 16, 2024) estimated net present value savings of $615,000 (about 2%) on the refunding; board staff recommended the…
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