Commission on Government Forecasting and Accountability
HOUSE
Robert Pritchard, Co-Chair
SENATE
Donne Trotter, Co-Chair
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Southern Illinois University 2014 COPs
Southern Illinois University 2014 COPs

Southern Illinois University 2014 COPs

 

Southern Illinois University proposes to sell $30,000,000 of new project Certificates of Participation
to finance the Carbondale Deferred Maintenance Project, and $15,750,000 in refunding Certificates of Participation to refinance the 2004A Certificates of Participation.

 

 

Request for Hearing Received:

October 10, 2013

Proposal Details:

October 10, 2013

Additional proposal and debt information:

October 22, 2013

Financial Audit:

October 22, 2013

COP Preliminary Official Statement and Agreements:

Draft Contracts

Public Hearing Scheduled:

November 5, 2013

Meeting Agenda:

November 5, 2013

SIU Informational Handout:

November 5, 2013

Commission Motion and Vote:

November 5, 2013

Meeting Audio:

November 5, 2013

SIU Answers to Questions at Hearing:

Energy Efficiencies   Purposes of COPs

Additional Board Approvals:

November 25, 2013

Commission Record of Findings:

December 3, 2013

Status of COPs:

SIU closed the COP sale on February 4, 2014, selling $28.5 million in tax-exempt new projects COPs, $1.6 million in taxable new project COPs, and $12.9 million in refunding Certificates. The new projects sales received a 4.076% true interest cost, while the refunding Certificates received a 3.0% true interest cost with net present value savings of almost $1.2 million.