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Section 535 - Use of Debt

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Section 535 - Use of Debt


Lower Columbia College may incur debt in accordance with RCW 28B.50.140 (6) and RCW 39.94. The College's debt shall be effectively managed to insure adequate resources are available to meet debt service requirements of short-term and long-term indebtedness. Lower Columbia College shall not incur debt or borrow money which will cause the aggregate debt contracted by Lower Columbia College to exceed that amount for which payments of principal and interest in any fiscal year would require the College to expend more than seven percent of the average general operating revenues for the three immediately preceding fiscal years.

 

Historic Information:

  • Campus Review - February 1-22, 2009
  • Approved - February 23, 2009

 

Resource/Reference/Procedure Title Unit Responsibility
    VP of Administration
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