The College Board of Directors must authorize all college borrowing in excess of $500,000 with a loan period or term greater than one year. Borrowing of this nature would primarily be to fund capital acquisitions or major program expansion. Debt instruments would include, but not be limited to mortgages, notes, and bond issuance.
Adopted: Policy has been in place prior to Sept. 2003
Revised: 6/2004, 10/16/2020