February 1, 2007
UW Debt Authority Bill Fares Well in Hearings
The University’s request legislation to expand our local borrowing authority (HB 1398 and SB 5394) received public hearings this week in the House Capital Budget Committee and the Senate Ways and Means Committee respectively.
State Treasurer Mike Murphy appeared in person at both hearings to support the proposed legislation, praising the University’s debt management capabilities and overall superb track record of financial management. University staff including Harlan Patterson from the Provost’s office and Doug Breckel and Chris Malins from the Treasury Office presented the bill at both forums. Both Washington State University and the Governor’s Office of Financial Management signed in supporting the bill.
The House Capital Budget Committee is expected to take action on the bill tomorrow and send it to the full House for consideration. Senate Ways and Means Committee action is expected sometime next week.