...The rating on Iowa State Board of Regents' bonds, issued for Iowa State University of Science and Technology, reflects the university's position as Iowa's land-grant institution, strong levels of state support, stable enrollment and demand statistics, and sound financial performance. Offsetting factors include limited amounts of unrestricted monies and moderately high debt. The new bonds are secured by student fees and institutional income and are on parity with the other outstanding academic building revenue bonds. Bond proceeds from this issue will be used to advance refund the series 1987 and series 1989 academic building revenue bonds. Iowa State University (ISU), founded in 1858 is Iowa's land-grant institution. ISU shares co-flagship status with the University of Iowa, and receives about 34% of total state appropriations for higher education. State support is strong, as appropriations totaled nearly $8,000 per student in 1997 and have increased 25% since 1992 to $180 million in 1997....
