The original charter for Rice prohibited the University from incurring debt. The charter was amended in 1998 permitting Rice to issue its first tax-exempt debt in 1999. Tax-exempt debt has helped finance numerous world-class facilities at Rice, thus enabling expansion of academic operations and student enrollment. Such facilities include:
- Academic buildings such as McNair Hall, home of the Jesse H. Jones Graduate School of Management;
- Residential buildings such as Martel College, McMurtry College, Duncan College, Graduate Apartments, Wiess College;
- Athletic and recreation facilities such as Reckling Park and Gibbs Recreation Center; and
- Research buildings such as the BioScience Research Collaborative Building and Brockman Hall.
Percent taxable = 86%
Rice's strong financial position has resulted in the highest long-term credit rating from both Moody’s (Aaa) and Standard and Poor’s (AAA) for our debt program.
For additional detail on Rice’s debt program, see the official statement; continuing disclosure statement; and audited financial statements below.
Offering Memorandum – 2015 taxable bonds
Fiscal Year 2016 Continuing Disclosure
Fiscal Year 2016 Audited Financial Statements