$250 million borrowing to fund building projects

Work is well under way on the new home for the ­neuroscience institute and the psychology department, above, located just south of Icahn Lab. ­Scheduled for completion in the spring of 2013, the building is one of several projects to be funded by $250 million in tax-exempt bonds issued June 15 by the University. The total interest cost of the bonds is 4.09 percent. Proceeds also will support a new data center on the Forrestal campus and renovations of Firestone Library and Jadwin Hall. The University’s capital budget through 2017 was cut from $3.3 billion to $2.4 billion during the financial crisis; it since has increased to $2.675 billion.