SEATTLE, Wash. — The Washington State University Board of Regents Wednesday approved a resolution to sell up to $48 million in revenue bonds to finance construction of a new Student Recreation Center on the Pullman campus.
The center will be paid for by a $200 annual student fee assessment approved by WSU students. The fee will not be assessed until the building opens, early in the year 2001.
The 140,000-square-foot building will contain fitness equipment, swimming pools, gymnasiums and other recreation facilities. In May, the board approved the schematic designs for the facility and authorized the university to proceed with plans for the sale of revenue bonds.
Income from the sale of bonds will cover the estimated $38.7 million in design and construction costs as well as financing costs. The bonds will be sold Aug. 3-5.
Steve Wymer, vice president of the Associated Students of Washington State University, thanked the regents for the vote of approval.
“Lots of students have put lots of time into the planning of this project. It’s great to have it on its way,” he said.
The resolution was the only topic on the agenda of the special meeting.