tlllG PeNbUlUM
Serving the Elon College community
Volume XIV, No. 15
Wednesday, January 20, 1988
Elon College, NC
Elon receives $12,000,000 in bonds
^ew housing, F.A.C. loan re-financed
By Scott Wood
Senior writer
Elon College recently secured
$12 million of financing through
the issuance of revenue bonds.
Qon plans to use the money to
fiiiance several projects to meet
President Young’s five year plan.
Elon follows Duke University
ind Davidson College in issuing
such bonds. The procedure is new
under an act recently approved by
Ihe North Carolina State
Legislature.
The bonds were purchased by
Ike banking institutions and will
be sold to the public in $5,000
ilenominations.
The issuing of bonds is not
new for Elon College. Elon has
over $4.7 million outstanding in
long term dd)t. Most bonds were
issued for the building of dor
mitories and date back as far as
1954.
However, what makes the new
1988 series bonds special is that
they are exempt from state and
federal taxes.
Poindexter estimates that Elon
will pay eight and one eighth per
cent on the new series. An in
vestor, not having to pay taxes on
these bonds, could yield over 12
See Bonds, page 2
Majority of students dislike
Saturday classes
By Lydia Derr
Staff Writer
The decision to make Saturday,
Imuary 16 a make-up day for the
Ftid^, January 8 snow d^ evok-
niix responses.
The students' view were split.
I think it’s okay as long as it
teesn’t happen too often,”
fehman Wilma Dixon said of the
■nusual make-up d^. “I like hav-
■8 il on Saturd^ better than run-
“ng it a day later,” Robin Hinton
pwd.
Others were not as optimistic.
*y Myrick said he thought the
i*>iniay make-up day was too
®ch because they (students) are
already in class three hours, five
d^ a week. Gary added that the
students need a break. “I think if
they’re going to use a Saturday to
make it up, they shold give us a
week’s notice.”
“I don’t think it’s fair, because
the afternoon classes missed two
days, so they should have to go
next Saturday,” said Debra Stuart.
\^^rren Board, vice-president
of academic and student af&irs,
recognizes that students and
teachers look forward to a leisure
ly weekend.
See Snow, page 2
Inside
ODK members selected
page 2
“Broadcast News” Movie Preview
page 6
Christians defeat Wingate
page 8
By Scott Wood
Senior writer
The college plans to use a large
portion of the money to re-fiance
the debt accrued in building the
new $7.5 million Fine Arts
Center. According to Elon Col
lege Financial Statements the cost
to complete the Fine Arts Center
is approximately $1.5 million.
Even though the college has a
loan commitment fnxn a bank for
over $5 million, only $1.6 million
has been borrowed during the
construction period.
The college also plans to use
the fiinds obtained to build more
parking. According to Vice Presi
dent of Administrative Services
Bob Poindexter the parking facili
ty by Harper Center will be
doubled in sized. Unpaved park
ing areas next to Harper Center
will also be paved. Elon has also
obtained permission from
Southern Railroad to extend the
parking facilities along William
son Ave. behind the student
center.
Portions of the $12 million will
also be used to develop the new
ly acquired north section of cam
pus behind the lacrosse field.
Water, sewage, and utilities will
be added to the approximately 15
acres of land.
The college has several plans
for use of this land. Gre k hous
ing will be constructed t( the rear
of the property. Alth jgh the
number of hxises is unclear;
plans call fo ranch-type houses
will acconv'Jate between eight
and ten students. Most of the
space will be social space used for
Greek activities.
Also planning to be con
structed is new dormitory space.
With the denial of zoning ap
proval for the expansion of Jor
don Center, the college now plans
to build a 200-bed facility on the
newly acquired property.
“This housing will be of the
brick and mortar type,” said
Poindexter. This is in contrast to
the temporary modular housing
of Jordon Center. Poindexter en-
See Plans, page 8
Ah, The Sunny South
The recent snowfall postponed classes fix a day and left 9 inches on
the ground.
Photo By Dr. Jerry Adams
Four arrested for break-ins
By Amy Andrews
Staff Writer
Four Elon Colley students
have been arrested and charged in
connection with several recent
campus break-ins, accordii^ to
Elon College Police Chief Dan W.
Ii^le.
John T. Pullen, 22, of Elon
Coll^ and Daryl-lyn Snyder, 21,
of New Jersey, were charged on
December 12 with two counts of
breaking and entering a motor
vehicle and larceny as well as four
counts of attempted breaking and
entering of motor vehicle.
'"We had experienced numerous
breaking and enterings of nxMor
vehicles on campus- in the Harper
Center parking lot in the last two
yeare,” Ii^le said. “These break
ing and enterings were being
committed by use of a slim jim,
which is a flat piece of metal that
is used to unlock car doors.”
Ingle said that an undercover
surveillance of the Harper Center
parking area was done and Pullen
and Snyder were apprehended for
burglaries in progress. Ingle said
that neither Pullen nor Snyder
were charged for any previous
motor vehicle break-ins. He also
added that there have not been any
more vehicle break-ins reported
since the arrests.
ingle said property, including a
Walkman radio and cassette
player and a digital clock valued
See Arrests, page 2