Millikin University Seeking 53 Million Dollar Bond

At Monday evening’s meeting, the Decatur City Council will debate whether to back a $53 million bond on behalf of Millikin University. The public is invited to weigh in before a formal vote. While the city’s name would appear on the tax-exempt bonds, officials stress that taxpayers will not be responsible for repayment; that burden lies solely with Millikin. The university intends to use the funds to refinance higher-interest debt and invest in campus upgrades. Supporters cite the potential for economic and community benefits. This is the first time Decatur has considered such a financial arrangement for a private institution.