UC BERKELEY STUDENTS ON HOOK FOR LOCKER ROOM
(03-31) 10:47 PDT BERKELEY -- This spring, workers poured the concrete floors for a 142,000-square-foot, four-story Student Athlete High Performance Center that will house lockers for the UC football team and meeting rooms adjacent to seismically unstable Memorial Stadium.
The project is being paid for with $135 million in bonds. Campus financial officials planned to pay off those bonds with donations, but the gifts never came in and the stock market has tanked.
Now, UC Berkeley's department of intercollegiate athletics is responsible for paying off the center's bonds. There's a problem, though. The department has no money and last year it had to be loaned millions of dollars from campus general funds.
[...]
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/03/30/BASU1CI2HF.DTL