SDI pledges $1.5 million to Trine engineering expansion
ANGOLA â The Steel Dynamics Foundation Inc. has pledged $1.5 million toward Trine University s engineering facility expansion, the university announced Monday.
In honor of Steel Dynamics support, the 40,000-square-foot expansion will be named the Steel Dynamics Inc. Center for Engineering and Computing.
A longtime supporter of Trine University, the Steel Dynamics Foundation Inc. has provided major gifts toward the Steel Dynamics Inc./Keith E. Busse Athletic and Recreation Center and the Thunder Ice Arena.
Enrollment in the Allen School of Engineering and Computing has risen 72% over the past decade to nearly 1,000 students, with engineering students accounting for more than 40% of Trine s main campus student population.
AUBURN â The Auburn Common Council on Tuesday began steps to issue a $4.31 million bond.
The bond would refinance $2.25 million of existing debt from 2011, leaving approximately $2.1 million for new projects.
The plan takes advantage of an expected interest rate of 1.3% for the new bond. The 2011 bond bears interest rates of 4% to 4.75%, and refinancing it will save a total savings of $300,000, council members heard last month.
Last week, Mayor Mike Ley met behind closed doors with the council to discuss possible acquisitions of real estate with the $2.1 million.
The bond ordinanceâs text includes a list of possible uses for the $2.1 million:
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