State Issues Bonds for Campus Improvements
Cal State officials sold $49 million in bonds Wednesday for roads, sewer lines and other improvements at Ventura County’s emerging four-year public university.
The improvements are the first step in building 900 houses for students, faculty and staff at the Cal State Channel Islands campus.
Officials are to break ground this summer on 208 units to be offered for rent and for sale to faculty and staff at the new campus, scheduled to open in the fall of 2002.
The bonds will be repaid by revenue generated from the housing project, CSUCI President Handel Evans said.
Future housing revenue will be used for a second bond issue to build a state-of-the-art library and media center.
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