The Indiana University Board of Trustees gave the go-ahead for the university to seek a billion-dollar line of credit at its virtual meeting Friday.
IU Treasurer Don Lukes told the trustees that the university would spend around two-million dollars to secure this line of credit from JP Morgan. The credit would be used as a reserve until the complete financial effects of the COVID-19 pandemic are known.
Any use of the line of credit would require board approval.
The board also approved the early granting of degrees to IU medical school students who have met requirements so they may begin practicing in response to the current pandemic.
Design approval was given for two projects on the Bloomington campus including renovations to the IU Museum of Archaeology and Anthropology and the McCalla complex.
The board voted to pause the construction of the International Center on the Bloomington campus.
Approval for the masters of arts in food science on the Bloomington campus and an education specialist in educational leadership at IUPUI, IU Southeast and IU South Bend.
All appointments and promotions of faculty and staff passed unanimously.
The trustees approved all items on the agenda.
Contact Matt at mrasnic@iu.edu or on Twitter @Matt_Rasnic.
