More precisely, the Oregon Treasurer’s efforts to take advantage of the pandemic-induced fall in interest rates by refinancing university debt will save UO $16M over the next 3 years.
Press release here. The state will save a bunch because they pay for bonds for academic buildings. I think that the university savings, below, are mostly for debt incurred by the universities for dorms and athletics. UO would have saved far more, but, according to what I was told by the former UO Treasurer, whoever wrote the $235M in Knight Arena bonds neglected to include the standard clause making them recallable after 10 years. Meaning we are stuck paying 4% or whatever on them for another 20 years – like a mortgage you’re not allowed to refinance.