Ohio University trustees know that $585 million is a lot of debt to take on over the next five years.
But interest rates are at historically low levels, they said. And it would be money well-spent if it keeps students, faculty and staff from walking away from the school because so many buildings are in need of major repairs.
“Time’s a-wasting,” Trustee Kevin B. Lake told his colleagues at a meeting yesterday in which the board discussed whether to take on an additional $100 million in debt for a total of $585 million, despite concerns that it could lower the school’s credit rating.