Stimulus package eases costs of University of Missouri-Kansas City projects

From The Kansas City Star: Taking advantage of low interest rates stemming from the federal stimulus program, the University of Missouri will direct nearly $72 million of that to the University of Missouri-Kansas City campus for improvements already well under way, including a new student union and a residence hall opening this fall. The bulk of the $332 million in the university system's bond proceeds come from Build America Bonds. These taxable bonds, created as part of the federal stimulus package, allow state and local governments to receive a federal subsidy of 35 percent on the interest they pay on the bonds.