TUCSON, Ariz. (AP) - The state Board of Regents agreed to let the University of Arizona borrow $20 million to pay for needed repairs and restoration of campus buildings.
School officials said Friday that the cost to repair campus buildings has risen to more than $90 million while the university has received no state money for that purpose since 2001.
"I have indicated for four years, our buildings cannot be allowed to deteriorate,'' said Joel D. Valdez, UA's vice president for business repairs.
The $20 million will go toward elevator repairs, an electrical grid update and fire alarm replacements.
To obtain the funds, UA will issue certificates similar to bonds that will be paid off with tuition revenue.
