UPDATED and CORRECTED: UCA Moves to Correct Illegal Borrowing

by Mark Hengel and Gwen Moritz  on Friday, Oct. 10, 2008 11:04 am  

Jim Purcell, director of the state Department of Higher Education, says he informed UCA that state law required any line of credit had to have prior approval from both DHE and the state Department of Finance & Administration.

The University of Central Arkansas has borrowed money for the past two years in violation of state law, and on Friday, its board of trustees voted to request an advance of $3.6 million from the state Department of Finance & Administration and formal appro

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