DECATUR, Ill. (WAND) - Millikin University is planning major upgrades across campus, and the city approved a multi-million dollar investment which will not cost taxpayers a dime. 

"We have a responsibility. And part of that responsibility is to bring our students and our resources and our assets to improve not just the West End, but the entire city and region. And we believe that we do that," said MU President Dean Pribbenow. 

University municipal advisor Jeff White said the City of Decatur isn't giving the university $53 million. Instead, the city will serve as the legal middleman in the bond process.

"Millikin bears all responsibility 100% without equivocation for the repayment of the bonds and all the associated costs with the transaction. The city is not using its general obligation authority. It is not extending its own credit to the university," White said. 

That funding will go toward improvements such as athletic facilities, staff housing, and parking areas on campus. City council approved a revenue bond agreement—meaning the money will be repaid using revenue generated by the university. 

"So again, no city credit support, no city financial obligation or risk. Millikin pays the principal and interest on the bonds. It pays the professionals — bond counsel, advisors, things like that," White said.  

Officials said the biggest takeaway is that taxpayers will not pay for the multi-million dollar investment, and the city's own borrowing power will not be affected. 

"It also will not impact our ability to borrow should we later need to issue bonds for capital improvements or infrastructure improvements," said Decatur City Manager Melissa Hon.  

If the city were to accumulate any legal fees during the process, White said the university would reimburse those costs, though officials stated that's unlikely.

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