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'We had a bad year:' How a covenant violation led Bradley University to make $13 million in cuts
Bradley University will pay a higher interest rate and need to have more money on hand to cover debt after violating the bond covenants on some $17.1 million worth of borrowing last year.
That's the underlying story behind last year's academic cuts on the Hilltop. WCBU obtained information on the covenant violation from the Illinois Finance Authority via Freedom of Information Act (FOIA) requests.
See omnystudio.com/listener for privacy information.
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By WCBU
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Bradley University will pay a higher interest rate and need to have more money on hand to cover debt after violating the bond covenants on some $17.1 million worth of borrowing last year.
That's the underlying story behind last year's academic cuts on the Hilltop. WCBU obtained information on the covenant violation from the Illinois Finance Authority via Freedom of Information Act (FOIA) requests.
See omnystudio.com/listener for privacy information.
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