In a special meeting, the Board amended its contract with Morgantown Energy Associates after Mon Power terminated its contract with the company. MEA then asked the University to amend its contract, originally signed in 1989 and amended in 2012, to permit the use of natural gas and base the cost on the amount of gas used. The amended agreement will expire in April 2027 as originally envisioned.
In another money-saving action, the board approved refinancing several series of bonds to take advantage of lower interest rates. The three series of bonds being refinanced cover a myriad of projects and date to 2011, 2013 and 2014. The refinancing bonds are expected to be issued before April 1 and will not extend the period of indebtedness.
The savings will enable the University to keep tuition low, supplement anticipated pay raises and invest in new academic programming to increase recruiting opportunities, Vice President for Strategic Initiatives Rob Alsop said.
Also Friday, the board approved two new majors: a Bachelor of Sciences degree in health services management and leadership in the School of Public Health, and a Bachelor of Science in music and health in the College of Creative Arts. Both majors will be available in the fall.
CONTACT: John A. Bolt
WVU Office of Communications
Call 1.855.WVU.NEWS for the latest West Virginia University news and information from WVUToday.
Follow @WVUToday on Twitter.