In a strategic move to expand its educational offerings, the Arkansas State University System Board of Trustees has approved a $30.6 million bond issue to finance the construction of a new College of Veterinary Medicine on the A-State campus in Jonesboro. This landmark decision paves the way for the state's first public veterinary school, set to welcome its inaugural class of students in 2026.

Unlocking a New Era of Veterinary Education in Arkansas

Investing in the Future of Veterinary Care

The $33.2 million project will see the design and construction of a state-of-the-art facility to house the College of Veterinary Medicine. The university plans to finance the building through the issuance of taxable Student Fee Revenue Bonds and the utilization of institutional reserve funds. Ultimately, the tuition and fees paid by CVM students will fund the debt service for the construction, ensuring a sustainable financial model for the college's long-term success.This investment in the College of Veterinary Medicine aligns with A-State's commitment to providing high-quality, accessible education to the people of Arkansas. By establishing the state's only public vet school, the university is poised to address the growing demand for veterinary services and fill a critical gap in the region's healthcare ecosystem.

Laying the Groundwork for Accreditation

The bond funding plan also allows for the refunding and reissuance of $11.6 million in existing student fee revenue bonds, which were previously used for capital improvements on the A-State campus. This strategic move will enable the university to optimize its financial resources and ensure the long-term viability of the College of Veterinary Medicine.The approval of the bond issue follows a recent consultative site visit by the American Veterinary Medical Association's Council on Education, which reviewed A-State's progress on facilities, policies, and personnel for the college. This comprehensive evaluation is a crucial step in the accreditation process, as the university works to meet the rigorous standards set by the AVMA.

Transforming the Veterinary Landscape in Arkansas

The establishment of the College of Veterinary Medicine at Arkansas State University represents a significant milestone for the state's healthcare landscape. By offering a public veterinary education program, the university aims to address the growing demand for veterinary services and provide accessible, high-quality care to communities across Arkansas.The bond issue, with an interest cost capped at 7% and a minimum savings of 4% from the refunding, demonstrates the university's prudent financial management and commitment to delivering a sustainable, affordable veterinary education. With Stephens Inc. and Crews & Associates Inc. serving as bond underwriters, PFM Financial Advisors LLC as the financial advisor, and Friday, Eldredge & Clark as the bond counsel, A-State has assembled a team of industry experts to ensure the successful execution of this transformative project.As the state's first public veterinary school, the College of Veterinary Medicine at Arkansas State University will not only expand educational opportunities but also contribute to the overall well-being of Arkansas' animal population and the communities that rely on them. This landmark investment in the future of veterinary care is a testament to the university's vision and its unwavering dedication to serving the needs of the people of Arkansas.