Wednesday, March 26, 1986/The Battalion Page 3
State and Local
A&M regents approve sale
of bonds worth $44 million
wlltICii
ist [a
lice beat
following incidents were
ted to the Texas A&M Uni*
||ty Police Department
I pfMonday.
?DEMEANOR THEFT:
»ur bicycles were stolen.
| Three backpacks were sto*
.ONY THEFT:
A Hewlett-Packard color
Jplotter wsis stolen (i om the
Ineertng Building.
1RGLARY OF A MOTOR
MCLE:
fA Clarion AM/FM cassette
Mtm stolen from a 1981
.'rolet Caroaro parked in PA
Two toy plastic revolvers
: stolen from a 1977 Ford sta*
K: wagon parked in Hensel
Bt RGLARY OF A COIN OP*
RATED MACHINE;
E bout $10 was stolen from a
ig machine at the Brayton
en Training Field.
■Bass AULT:
• A woman reported that
hif she was in PA 50, a man
■ said he was “Alex” ap*
plched her, grabbed her arm
verbally abused her. The
let her go and left the scene
t.
Harassment:
If A man in Dunn Hall re
el receiving threatening tele*
e calls.
A man in Schuhmacher Hall
irted receiving calls from a
| who stated, “You have been
uled for termination.”
By MARY ANN HARVEY
and
MONA PALMER
Staff Writers
The Texas A&M Board of Re
gents Tuesday approved the refund
of $89 million in government bond
issues and the sale of new govern
ment bonds worth $44 million.
Mike Lytle, assistant to the chan
cellor for federal relations, said
these actions resulted from falling
interest rates and the delayed imple
mentation of Sen. Bob Packwood’s
tax proposal.
Now that interest rates have fallen
by 2 percent since the beginning of
the year, refunding bonds is more
profitable, said Milton Thompson,
assistant to the system comptroller.
If the bond holder refunds bonds in
advance of their maturity date, then
he can have the bonds re-issued at a
better rate, he added.
The Packwood Amendment pro
poses to partially tax interest on all
tax-exempt bonds, thereby increas
ing the cost of refunding bonds and
issuing new bonds. The amendment
will be implemented either Sept. 1 or
Jan. 1, Thompson said.
During the regent’s meeting Mon
day, regent John Mobley said that
because of the falling interest rate,
the regents have an opportunity to
capitalize on refunding bonds, and
this may not occur again.
During the discussion of the sale
of new bonds, A&M regent Royce
Now that interest rates
have fallen by 2 percent
since the beginning of the
year, refunding bonds is
more profitable.
— Milton Thompson, as
sistant to the system com
ptroller.
Wisenbaker questioned issuing new
bonds if there is no specific Univer
sity project to spend the money on.
“We may end up with projects we
don’t need just because we’ve got the
money,” he said.
But a report from Bill Wasson,
system comptroller, said proceeds
from a proposed $20 million hous
ing bond for A&M would be used to
provide a portion of the $30 million
required for dormitory renovations
on the main campus.
Proceeds from a proposed $24.3
million combined fee bond, also for
A&M, would be used to provide
funding for student and academic
facilities on the main campus, the re
port said.
Thompson said the process of
selling and refunding bonds is com
plicated and takes a lot of time. The
time between deciding to sell and ac
tually selling bonds can be anywhere
from six weeks to six months,
Thompson said.
Wasson and bond attorneys cur
rently are working on the issue so
they can act when necessary,
Thompson said. They don’t want to
be caught off-guard or unprepared
when the Packwood Amendment
goes into effect, he said.
The board also gave final appro
val to increases in parking permit
fees, bus fees, student service fees
and modular style dorm fees, effec
tive for 1986.
According to a report from A&M
President Frank E. Vandiver’s of
fice, a 5 percent increase in parking
permits will be necessary in order to
meet the funding requirements for
the multi-level parking garage,
scheduled for completion in late
1988.
Users of the off campus bus serv
ice can expect a 3.4 percent increase
to $46 per shuttle pass, according to
the report.
Also passed was an increase in the
maximum student services fees from
$54.50 per semester to $61 per se
mester.
New modular-style dorm fees will
be raised by 4.3 percent, or $825,
according to the report.
Also approved was the establish
ment of an international student fee
of $21 per semester for foreign stu
dents, in addition to the student
services fees they already pay.
AGGIE
CINEMA
Mister Roberts
scheduled for Wed., March 26, 1986
has been CAJNTCSIiliED.
exas files suit over Gramm-Rudman cuts
AUSTIN — Texas filed suit
Ktst the federal government
Klay, claiming the state is having
pay more than its share to hold
, the federal deficit.
'^TTAttorney General Jim Mattox
, “We are filing a suit because we
not think the budget cuts being
[de are proper according to law.”
aitox said the suit, filed in an
Austin federal district court, alleges
the budget cuts assessed Texas in
two state programs total about 12
percent, although the goal of the
across-the-board cut required by the
Gramm-Rudman deficit reduction
bill was only 4.3 percent.
Under the budget cuts ordered by
the federal government, the state
will lose $6 million for a program to
aid the elderly in paying their utility
bills. Another $2.5 million will be
slashed from alcohol and drug abuse
programs.
Mattox said the two programs
named in the suit are the first bud
get cuts officially announced by
Washington.
Mattox made the announcement
at a Capitol news conference where
he and Rep. Paul Ragsdale, D-Dal-
las, protested another proposed
budget cut they said will result in
Texas losing $2.5 million for its
Child Support Enforcement Pro
gram.
Ragsdale estimated dependent
children will lose $11.5 million that
otherwise could have been collected
from responsible parents.
St,
Cdlege Qiedit:
The Interftrst
Student Loan.
No one really needs to be told how expensive
a college education is these days. But what many
don’t know is where to look for help.
You can start at InterFirst By asking about an
InterFirst Student Loan.
Undergraduates can borrow up to $2,500 per
school year, graduate students up to $5,000. And
the annual current rate for first-time borrowers is
only 8%, simple interest
If your family’s annual adjustable gross
income is less than $30,000, you’re au
tomatically eligible. If it’s more, there’s
an excellent chance you’re eligible for all
or part of the loan amount
What’s more, you have ten years to repay the
loan. And you don’t start until six months after
graduation or withdrawal from school.
For more details, and an application kit for aThxas Guar
anteed Student Loan from InterFirst send us the coupon. Or
call or visit a local InterFirst bank. Then you can stop worrying
about money, and start worrying about grades .We believe inyou.
\ I
Yes, I’m interested in receiving an InterFirst Student Loan Kit.
Name
Street
City State ZIP
___ an 1
fhardf
I Student Loan Center, InterFirst Bank
1 P.0. Box 83611, Dallas,Tbxas 75283-0611
(214)977-5500
InterFirst
Members FDIC TAM-1
j
HEALTH PROFESSIONALS!
The Army Medical Department represents the
largest comprehensive system of health care in
the United States and offers unique advantages
to the student, resident, and practitioner in the
following professions:
• Physicians
• Dentists
• Veterinarian
• Optometrist
• Clinical Psychologist
• Clinical Psychology Internship Program
• Environmental Scientist
• Podiatrist
• Sanitary Engineer
• Pharmacist
• Biomedical Information Systems Officer
As an Army Officer, you will receive substantial
compensation, an annual paid vacation, and
participate in a remarkable non-contributory
retirement plan.
For more information just fill out the attached
form and mail. Or call: (512) 225-4465
(Collect calls accepted.)
AMEDD Personnel Counselor
Brooke Army Medical Center
ATTN: HSHE-OP
Fort Sam Houston, TX 78234-6200
PHONE (AC)
SCHOOL ATTENDED/ATTENDING
GRADUATION DATE
SPECIALTY AREA OF INTEREST
♦.. See it now,
before it vanishes from sight!