University of Massachusetts Building Authority
The University of Massachusetts Building Authority (UMBA) is a public organization established by the Massachusetts Legislature in 1960, primarily tasked with constructing facilities on the University of Massachusetts campuses. The Authority has the ability to borrow funds through bond issuance, with the University pledging to cover the principal and interest over the life of these bonds.
In addition to overseeing the construction process, which includes engaging architects, engineers, and construction firms, the Authority maintains ownership of the completed facilities, while the University is responsible for their use and maintenance. The Authority is governed by eleven members appointed by the Governor, with a mix of University Trustees and non-trustee members, ensuring a connection to the institution it serves.
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