For Release: Immediate, May 30, 2001

Board Approves 3 College Financings

The Dormitory Authority Board met today at Canisius College in Buffalo, and approved the following financings:

• New School University. The Board approved a bond issue of up to $25 million for New York University to acquire and renovate a 185-bed residence facility. The 40-year, tax-exempt fixed-rate bonds will be sold through a negotiated sale headed by J.P. Morgan Securities Inc. New School University was founded in 1919 as the New School for Social Research, but has expanded over the years to include arts and culture studies, the liberal arts and public affairs. The University maintains its reputation as an alternative to more-conventional institutions of higher education.

• Siena College. A bond issue of up to $28 million was approved to allow Siena College to build a 188-bed residence facility, expand locker room space, and refund $16.3 million of its 1992 Dormitory Authority bonds. First Albany Corporation will be the senior underwriter for the negotiated sale. The 30-year bonds will be tax-exempt and sold at a fixed interest rate. Founded by the Franciscan Order in 1937, Siena College offers arts, science and business curricula at its campus in Loudonville, a hamlet of Albany County.

• University of Rochester. The Board approved the sale of two series of tax-exempt fixed-rate bonds up to $130 million in total. The size of each series will depend on market conditions. The tax-exempt, fixed-rate bonds will be sold through a negotiated offering led by Salomon Smith Barney. The University was founded in 1850 and has seven schools and colleges offering degrees in the humanities, social sciences, natural sciences, engineering, education, management, music, medicine and nursing.

The Board is scheduled to meet at 9:30 a.m. June 27 in its New York offices on the 52nd floor of One Penn Plaza, New York City.

For more information, contact Press Officer Claudia Hutton at (518) 257-3382, or CHutton@dasny.org.

Go to 2012 News Releases

Go to 2011 News Releases

Go to 2010 News Releases

Go to 2009 News Releases

Go to 2008 News Releases

Go to 2007 News Releases

Go to 2006 News Releases

Go to 2005 News Releases

Go to 2004 News Releases

Go to 2003 News Releases