MEMOIRS BY DR. SAMUEL H. SUTHERLAND PRESIDENT EMERITUS June 20, 1986 Page 17 - Tape 1
Trustees decreed that never again would the school go into debt. That has held true to the present time in 1986. There are one or two exceptions to that ruling by the Board of Trustees. We borrowed money for the 300 bed women's dormitory at the north end of the campus. It is a self-amortizing loan; therefore, we did not have to mortgage anything more than the land on which the building stands. That is equally true with the largest men's dormitory at the extreme southern end of the campus. By 1986, the north dormitory is probably almost paid for, and the southern dormitory is well on the way to being paid for. In this way, we could bring in four or five hundred more students than otherwise would be the case, so it was a good deal for the school and students as well. There has never been a mortgage on the campus from the time that we cleared the debt to the present moment.
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