Sec. 4-1407 Refunding and Restructuring
Sec. 4-1407. Refunding and Restructuring

The University administration will annually review all outstanding debt to determine whether there are refunding opportunities that would result in financial savings to the institution. These refunding opportunities will be considered whenever permissible under the bond covenants. When refunding outstanding debt, the intention is to lower the cost of capital and take advantage of net present value interest costs savings and not to increase the amount of debt or to extend the maturities of the existing debt.