Commercial Paper Program
Provides flexibility in managing the 杏吧传媒鈥檚 overall debt program and may be utilized for various 杏吧传媒 financing needs including, but not limited to: a) capital projects, including the acquisition, construction, renovation or expansion of various 杏吧传媒 facilities, infrastructure or equipment, and b) providing a readily accessible source of funds for various working capital purposes.
Commercial Paper Notes (鈥淐P Notes鈥) may be issued in taxable or tax-exempt form under the Commercial Paper program up to an aggregate amount authorized by the Board of Curators. Only taxable CP Notes may be utilized for working capital purposes. The maximum term of any CP Note is 270 days, and no more than $100 million in CP Notes may mature within any seven calendar days.
CP Notes are limited obligations of the 杏吧传媒 payable solely out of and secured by a pledge of the 杏吧传媒鈥檚 unrestricted revenues, which generally include state appropriations for general operations, student fee revenues, and all other operating revenues of the 杏吧传媒 other than 杏吧传媒 Facilities Revenues.
Reviewed 2025-06-26