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Board talks bonds

Last Friday, Sept. 15, Miami University’s Board of Trustees (BoT) passed a resolution granting David Creamer, senior vice president for finance and business services, the ability to issue $22 million worth of refunding bonds to manage the university’s debt. Creamer explained that this debt — and all long-term debt accrued by a state university — has to be financed through the issuance of tax-exempt bonds. “Tax-exempt bonds are things that corporations, banks and individuals buy that are then issued to the university,” Creamer said. “There is an annual interest payment that follows that, we use it only for capital construction. The law is very limiting on how we can use these mechanisms.” The debt in question accumulated from the university’s construction projects during 2012, in which several residence halls on East Quad were renovated. While Creamer will have the power to issue these refunding bonds between now and when the next payment is due in March 2018, it is unlikely he will. The university would likely only issue refunding bonds is if the interest rate of the refunding bonds is lower than the interest rate of the tax exempt bonds, said Creamer. Currently, issuing the refunding bonds would not save the university any money. John Altman, committee chair of the BoT’s finance and audit subcommittee, introduced the resolution at the meeting on Friday to the rest of the board....

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Irma’s effects felt beyond the storm’s path

Miami students worry for family members, take friends in Hurricane Irma has been devastating the Caribbean, Puerto Rico and Virgin Islands for the past week and is headed toward further destruction on the U.S. mainland in the coming days. While the storm itself has been downgraded from a Category 5 to a Category 3 hurricane, the southwestern coast of Florida was hit hard. The storm was eventually downgraded to a tropical storm in Tallahassee, but is expected to make landfall throughout the rest of the state as well as Georgia and potentially Alabama. For the majority of Miami students,...

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Forgotten figures of the London Underground

The most striking visuals among the subway platforms and hidden hallways beneath London are not the train cars hurtling miles underground, known affectionately as the Tube, but rather the colorful characters who occupy the winding paths tucked beneath the city. One woman in particular stands out. She spends every day in the Bakerloo Tube station, it seems. Her crackled voice croons “are you out there?” Her turquoise eyeshadow accentuates her dark electrified hair, frizzed at every end. Her guitar case lies open with a smattering of pence and single pound coins scattered among bits of rolled up paper, a half eaten baguette and forgotten lyrics. One morning, another man strokes a guitar, gently singing a Spanish folk song. The rush of the trains leaving Westminster punctures his lighthearted lyrics. Suddenly, he is lost among the throngs of commuters crowding the platform, eager to clamor aboard to the next station. The sweet lyrics of Simon & Garfunkel’s “The Boxer” trail throughout the hallway of the Oxford Circus station. The man with the beat-up acoustic guitar, whose sandy colored hair and worn out khakis blend into the wall, stands up slightly straighter as he leads into the next verse. “Asking only workman’s wages/ I come looking for a job/ But I get no offers/ Just a come-on from the whores/ On Seventh Avenue/ I do declare/ There were times when I...

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With Pi Phi shut down, newest members pay but miss out

It was a warm spring day in Oxford and Sophie Maness, then a first-year student, was anxiously awaiting initiation. Following the initial ceremony with the rest of her pledge class, she and a few other girls whose last names started with the letter “m,” sat excitedly in Minnich Hall counting down the minutes until their names were called. On April 8, Maness officially joined Miami University’s Pi Beta Phi chapter, or “Pi Phi,” along with 59 0ther new members of the 2017 pledge class. Four months later, on Aug. 8, the Pi Beta Phi Fraternity for Women international organization issued a press release announcing that Miami’s chapter was closed, effective immediately. For Maness and her fellow sisters, the decision came as a shock. “Before we were initiated, we had a meeting where we were told our nationals was going to be deciding if we were at risk of losing our charter,” Maness said. “[We were told] it would be decided within a week and if that were the case we were not going to be initiated.” Former Pi Phi member sophomore Julia Edie said their president, senior Elizabeth Glover, read aloud to the chapter a letter from headquarters’ Grand Council that claimed the organization would not give the “go-ahead” to initiate the 60 girls in the 2017 pledge class on April 8 if they believed the sorority was going...

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Uptown bar and restaurant 45 East closed

Lease agreement cause for shutdown, owner says   One of Oxford’s most popular Uptown establishments, 45 East Bar & Grill, closed its doors this week. Owner Will Weisman sent an email to the 45 East employees explaining that, despite both he and his brother Mark’s best efforts, they were unable to negotiate terms with the property owner to extend their lease on the building. The property also includes the second story bar Decibel and its dance floor space. “We were simply unable to finalize a lease extension and decided to look for other locations,” Weisman said. “The relationship with...

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