Western Michigan University’s trustees have approved a $28 million bond issue to fund two construction projects. The Board made the unanimous decision at its regular meeting today.
The university would use most of the money to finish building the new Valley Dining Center. It would spend a portion of the funds on the alumni center going up on East Campus.
Western says it might also pay debt from old bonds out of the new bond issue, if "market conditions" permit.
The trustees also approved changes to parts of university president John Dunn's job contract. Among other things, the revised agreement clarifies what Dunn's emeritus status would be were he to leave the presidency early. His contract with Western runs through the end of June 2017.
CORRECTION: This story has been revised to reflect that the changes to Dunn's contract did not include a new structure for deferred compensation payments, as originally reported.