Southeast Missouri State University
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Ann K. Hayes (573) 651-2552
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FOR IMMEDIATE RELEASE

REGENTS TO CONSIDER FUNDING STRUCTURE, REVISED CONCEPTUAL DESIGN FOR RIVER CAMPUS

CAPE GIRARDEAU, Mo., Dec. 12, 2002 - The Southeast Missouri State University Board of Regents will consider revised conceptual designs and a funding structure for the River Campus when it meets Dec. 13 in the University Center Ballroom.

The open session is scheduled to begin at 11 a.m. The Regents are expected to break for lunch at noon and reconvene in open session at 1 p.m.

The Regents will consider a revised conceptual design for the River Campus after approving preliminary conceptual designs in October 1999. Under the revised conceptual designs, the River Campus Museum has been relocated from earlier plans.

The Board also will consider approving a $35.6 million funding structure for the River Campus that satisfies a city ordinance requiring that the University and the state have committed sufficient funds to complete the acquisition, construction, furnishing and equipping of the joint facilities. Under the proposal, the city's commitment would be funded by the University issue of Series A fixed rate 20-year term bonds, which would be repaid by city hotel-motel restaurant tax revenue. The balance of the construction costs would be funded by a University issue of Series B variable rate 30-year term bonds, which would be backed by fiscal 2000 and 2001 state appropriations, the Southeast Missouri University Foundation and the Board of Regents. The proposed cooperative financing structure calls for $16.55 million from the State of Missouri, $8.9 million from the City of Cape Girardeau, and $10.15 million from the Southeast Missouri University Foundation.

In related matters, the Board will consider a resolution declaring its intent to reimburse certain project costs with future bond proceeds. Also on the agenda are motions to accept a revision to an earlier contract with Jacobs Facilities, Inc., for architectural and engineering services for the River Campus project at a cost of $3.65 million, and to approve a revision to the contract with BSI, Inc., for construction management services for the River Campus project.

In addition, the Regents will consider appointing Dr. Dennis Holt, vice provost and executive director of the Southeast Missouri Educational Consortium, to serve as a representative of the University on the River Campus Board of Managers. Holt would replace Jerrianne Wyman, who was recently reappointed but who requested to step down due to her increased business responsibilities.

In other action, the Board will consider approving: a possible incidental fee surcharge, an evaluation of the Lift for Life Academy, and a notification of intent to withdraw the charter for the St. Louis Academy Charter School.

The Board will consider accepting the annual financial report, the annual financial report for the system facilities and the A-133 single audit report on the schedule of expenditures of federal awards, all for the year ending June 30 from KPMG L.L.P.

The Regents also will consider conferring of degrees for 2002 fall commencement; a resolution of honor for Dr. Pauline Fox, vice president for administration and enrollment management, who is retiring; and several resolutions of honor for Southeast athletes. Among them are Laura VanHoevelaak, Ohio Valley Conference (OVC) Scholar Athlete; Lindsay Zeiler, OVC Cross Country Female Athlete of the Year; the Southeast women's soccer team that won the 2002 OVC regular season championship for the second straight year; the Southeast softball team, which had the second highest team grade point average in NCAA Division I; and the Southeast football team that finished the 2002 season with an impressive 8-4 record.

The Board will hear a report from the student representative to the Board of Regents and a report from the President. The President's Report will include information on three Mississippi Delta Regional Authority grants, a feature on the Kennett Area Higher Education Center published in an insert to the Daily Dunklin Democrat, and a progress update on Facilities Management projects. Also included will be an NCAA Independent Auditor's Report on Agreed Upon Procedures for the University's Intercollegiate Athletics Department and a report on the Governor's Forum on Higher Education. The Regents will receive a copy of the Final Report on the University's Budget Request for 2003-2004.

The Regents will consider a motion to go into a closed session for appropriate considerations. When the open session reconvenes, the only item on the agenda will be consideration of a motion to adjourn.

 

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