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UO seeks state bonds to back arena proposal.

Publication: The Register-Guard (Eugene, OR)
Publication Date: 31-OCT-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: UO seeks state bonds to back arena proposal.(City/Region)(Though some call the plan too risky, proponents say interest from the $100 million Knight donation would cover shortfalls)

Article Excerpt
Byline: Greg Bolt The Register-Guard

The University of Oregon's new $227 million basketball arena would be financed entirely through state-backed debt under a plan the UO is presenting to a higher education board this week.

Some critics worry that the plan is financially risky, but UO administrators defend it as safe and practical.

UO officials on Friday will seek the first of three approvals they need, when they ask the state Board of Higher Education for permission to request legislative approval of $200 million in bonds to build the approximately 12,500-seat arena. The Legislature previously approved $27 million in bonds to buy land for the project.

The board meeting begins at 10 a.m. at Oregon State University's North Willamette Research and Extension Center in Aurora. If the board approves the plan, the UO will go to the Legislature in February to seek authorization for the bonds.

If the Legislature goes along, the UO's final step would be to go back to the higher education board for approval to sell the bonds.

The financing plan...

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