DACC trustees OK $1 million loan for campus upgrades
By Noelle McGee
Wednesday August 20, 2008
DANVILLE – Danville Area Community College trustees on Tuesday took another step toward issuing $1 million in bonds to make much-needed improvements to technology across campus.
Trustees authorized the college to enter into a $1 million debt certificate, or installment loan, with First Financial Bank in Ridge Farm, which is offering an annual interest rate of 2.6 percent. By law, the college must show debt before it can proceed with a bond sale.
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