Ohio University may undertake approximately $250 million in debt through a century-long bond — given pending approval from the Board of Trustees.
Ohio University may undertake approximately $250 million in debt through a century-long bond — given pending approval from the Board of Trustees.
The proposed bond, which requires an upfront payment of nearly $7 million, will be discussed at Faculty Senate’s first meeting of the semester Monday in Walter 235 at 7:10 p.m.
At least seven resolutions will be up for approval, most of which pertain to the outdated language in many sections of the Faculty Handbook.
If approved, the 100-year bonds will be used to “finance deferred maintenance” on campus facilities, said Beth Quitslund, the senate secretary, in an email.
Vice President for Finance and Administration Stephen Golding will discuss the proposed bond, which was presented to the Board of Trustees on Aug. 28.
OU President Roderick McDavis and Provost Pam Benoit will also attend Monday’s meeting.
“We would spend it over a broader period of time to attack the utility infrastructure plan, the roofs and building envelopes, the windows, the HVAC systems, et cetera, that we are trying to improve on the Athens campus,” Golding said at the Board of Trustees meeting, according to a previous Post article.
Four of the seven resolutions for senate’s first meeting deal with updating and changing the language in several parts of the handbook, including sections pertaining to faculty status, excused medical visits and the classification of faculty members into groups.
“There’s a real desire to explore the way we classify faculty,” said Howard Dewald, associate provost for faculty and academic planning. “The Group II faculty in the faculty handbook need a little bit further revision.”
Currently, faculty members are classified into either Group I, which are tenure-track faculty; Group II, instruction faculty; Group III, adjunct professors; or Group IV, which encompass any remaining positions including visiting professors and special appointments.
“What’s likely to happen in terms of resolutions … is a bunch of housekeeping,” Quitslund said.
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