294



APPROVAL OF $2.2 MILLION LOAN RESERVATION



(Board of Trustees meeting, November 15, 1987)



The Board approved unanimously to accept the $2.2

million loan reservation approved by the federal government;



The Board authorized the University’s officials to move

as expeditiously as possible to get on the legislative

agenda and be included in a bond issue so that they could

secure sufficient funds for the construction of dormitories

on the St. Croix Campus;



The Board authorized the administrative staff of the

University to pursue all options available with respect to

the funding for the building of the St. Croix dormitory; and



The Board directed the University’s administration to

present to the Board of Trustees at the earliest opportunity

with a reconsideration of the capital needs of both campuses

of the university.



The Chairman appointed Judge Verne Hodge, Miss Ruth

Thomas, and Dr. Arthur Richards from St. Thomas, and Mr.

Patrick Williams and Mr. Kwame Garcia from St. Croix to the

committee. The Chairman also designated himself as a



member, and named Judge Hodge chairman of the committee.