John Dickinson, assistant vice president for finance, has successfully completed a major financial transaction for the University of Alaska system, one that required massive amounts of time and his best financial and negotiating skills.
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With John leading the effort, the university just sold $33.5 million in tax-exempt general revenue bonds, on which the low bid was submitted by Morgan Stanley DW Inc. with a 4.75 percent interest cost.
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"John worked hard on this project, and the entire university system will benefit from his fine efforts," said Joe Beedle, vice president for finance.
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The bond proceeds will be utilized for the UAA Community and Technical College Project ($14 million) which involves acquiring and renovating space at the University Center Mall in Anchorage; the Juneau Readiness Center/UAS Joint Recreational Facility Project ($5.47 million) to
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be used by UAS and the Alaska Army National Guard; and the UAF West Ridge Research Building and Related Science Facilities ($8 million).
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In addition to the project costs, $4 million in bond funds was utilized to refinance previously sold bonds at lower interest rates, and the remainder was used for reserves, interest and issuance costs.
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| With the bond deal signed and delivered, John Dickinson is leaving this week for a well-earned vacation. |