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Financing Facilities for a Better Future

R.I. Health and Educational Building Corporation Issues $19.8 million in Higher Education Facility Revenue Bonds on Behalf of the R.I. Council on Postsecondary Education

PROVIDENCE, R.I. – The Rhode Island Health and Educational Building Corporation (RIHEBC) announced the issuance of $19.8 million in Higher Education Facility Revenue Bonds on behalf of the Rhode Island Council on Postsecondary Education (the Council).

The tax-exempt bonds closed on December 12, 2018, and will be used to finance the engineering and construction of upgrades and component replacements to five municipal-level utility systems on the University’s Kingston campus, there-pavement and reconstruction of major parking facilities, internal roadways,and walkways and associated infrastructure on the Kingston, Narragansett Bay and W. Alton Jones campuses, and the installation of upgraded fire alarm and sprinkler systems, as well as life safety improvements in the University’s auxiliary enterprise buildings.

The Council on Postsecondary Education is the entity responsible for the management of the University of Rhode Island (URI), Rhode Island College, and the Community College of Rhode Island. URI is a land grant and sea grant institution and the state’s only publicly supported research institution. URI’s current graduate and undergraduate student population is over 18,000.

RIHEBC is Rhode Island’s largest municipal and non-profit financing entity,with more than $8.7 billion in bonds issued over the past 52 years.

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About The Rhode Island Health and Educational Building Corporation
The Rhode Island Health and Educational Building Corporation (RIHEBC) mission is to assist eligible borrowers to secure funding for capital projects,especially tax-exempt debt financing. Eligible borrowers include municipalities, public school districts, and public and private nonprofit educational and healthcare organizations. RIHEBC endeavors proactively to develop cost-effective, efficient, and user-friendly financing programs. RIHEBC provides borrowers access to high quality professional and technical resources,including staff expertise and assistance. For more information visit www.rihebc.com.