ATHENS, Ohio - Many of the significant buildings at Ohio University need work, and the school's trustees seem willing to increase the debt to get it done sooner.
Trustees of the public institution in Athens discussed Thursday the possibility of borrowing another $100 million for work, which would increase the school's total debt to $585 million. But one official noted that doing so could damage OU's credit rating.
The Columbus Dispatch reports that Ohio University officials have proposed spending more than $2.6 billion on construction projects over the next 19 years to keep the Athens campus from falling into disrepair.
Stephen T. Golding, OU's chief financial officer, said adding an extra $100 million to the debt would help renovate several high-priority academic buildings, including Alden Library.