ECC Trustees Sell Gymnasium Revenue Bond
Press Release dated December 4, 1965 regarding the revenue bonds sold to pay for coliseum. This and other press releases may be found in the records of News Bureau, Record Group IA1300, Series 1, News Release File, 1939-1988 in the University Archives.
Citation for this particular press release is:
ECC Trustees Sell Gymnasium Revenue Bond, News Release, December 4, 1965, ECU Universty Archives, Record Group IA1300, Series 1, Box 13, Folder A.
GREENVILLE -- East Carolina College authorized Friday the sales of $1,640,000 in bonds to help finance a new $2.5-million coliseum and pool facility.
The executive committee of the college trustees, in a meeting in Raliegh, accepted the low bid of a New York firm, John & Co., to fund the bonds for 25 years at an interest rate of 3.7606 per cent.
College officials said the Nuveen firm's bid provided a lower rate of interest than might have been expected. They noted the bonds had been given an "A" rating when they were prepared for the bond market.
The Nuveen bid was recieved and opened along with proposals from three other firms in the office of Vice President F. D. Duncan Thursday.
Other bidders and the rates of interest they proposed were: R. S. Dickerson & Co. bidding for several companies, 3.76585 per cent; Wachovia Bank & Trust Co., 3.7990 per cent; and White, Weld & Co., 3.8363 per cent.
According to Duncan, the bonds will be completed immediately by a New York printer and delivered to the Nuveen company.
