- Associated Press - Friday, February 19, 2016

CONWAY, S.C. (AP) - Coastal Carolina University officials have approved a motion to issue $38 million in higher education bonds for expansions to its football stadium.

The Sun News of Myrtle Beach (https://bit.ly/1UbEiWw ) reports the Finance, Planning and Facilities committee unanimously approved the motion during a meeting Thursday. The motion will go to the full board for approval Friday.

Vice president for finance and administration Stacie Bowie says the university must have the financing in place in order to execute a contract with a contractor.

The updated Brooks Stadium is expected to have more than 21,000 seats, a new entrance plaza and a new suite level.

Bowie says the university will pay back the bonds through traditional debt service funds, which are set aside every year from the general budget.

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Information from: The Sun News, https://www.thesunnews.com/


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