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Issuance of Debt
ISSUANCE OF DEBT The Board expects that debt will only be issued after careful consideration and in accordance with industry best practices. Specific approval must be received from the Board before the issuance of debt. Debt service repayment should be structured so that the repayment period should not exceed the estimated service lives of the underlying assets. The college President and/or designee shall be responsible for administering college debt. END OF POLICY Legal Reference:
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