Contrary to inaccurate media reports, LSU has not begun the process of
filing for financial exigency, but we do continue to explore a wide range of
contingency plans in light of the state's $1.6 billion shortfall. In light
of recent events, LSU has decided to postpone the issuance of Series 2015
Auxiliary Revenue and Refunding Bonds in the amount of $114.5 million. Under
the current circumstances and due to the continued unpredictably of our
state budget, we believe this is the responsible thing to do, and we will
reevaluate the offering once the state's financial picture becomes clearer.
We remain hopeful that the Legislature will develop solutions to protect
funding for LSU and higher education in Louisiana, but we owe it to our
students, faculty and staff to prepare for every possible
outcome, as any responsible fiscal manager would do.
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