Historical Newspapers of South Carolina

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The (Samecock State bonds benefit USC by Shawn Miller The Gamecock South Carolina borrowed $34 million from Merrill Lynch on behalf of USC last Tuesday to fund construction projects at the Columbia, Aiken and Spartanburg campuses. The funds were acquired through a general obligation bond issuance approved by the Legislature in 2000 and carried out by the office of State Treasurer Grady Patterson. The bonds were issued online during a 15-minute auction. The winning bid came from Merrill Lynch, which offered a 4.791 percent interest rate. First Union National Bank was second with a bid of 4.802 percent. Issuing a bond is like taking out a loan or giving an IOU. Money is borrowed from bond holders that must be repaid within a certain period of time and at a certain rate of interest. Now that Merrill Lynch has acquired the bonds, it can resell them to individual and institutional investors. Interest earned on bonds issued by states or municipalities is generally tax free, thereby making them attractive investments. Bonds are a form of securities — they’re made secure by some form of collateral. In this case, the collateral is the financial viability of the state of South Carolina. That’s why South Carolina issued the bonds on behalf of USC — a state is more financially stable than a university and can thus get a lower interest rate. The $34 million debt will be repaid over a 20-year period. “The interest in these bonds was great, and the contest for them was very close,” Patterson said. “It shows that South Carolina’s reputation — and our AAA credit rating — carries weight when we to go market with bonds. We are paying the lowest rates the market has to offer because of our sound financial tradition.” David Adams of the S.C. State Treasury said $3 million of the money will go to the Aiken and Spartanburg campuses. The Aiken campus will make improvements to landscaping, energy conservation and intramural athletic fields. Spartanburg will renovate and upgrade the Humanities and Performing Arts Center, the Facilities Management Building, the Smith Building, the Hodge Center and various other buildings. The remaining $31 million will be spent on the construction of the Strom Thurmond Fitness and Wellness Center, which will cost $40 million and is scheduled to open in spring 2003. The facility will include indoor and outdoor pools, an indoor track, a climbing wall, six racquetball courts, four basketball/volleyball courts, whirlpools and saunas, food service, wireless Internet access and countless other amenities. “We’re helping strengthen an already bright future for [USC],” Patterson said. “Students, families and citizens all will benefit from a robust university system.” The news desk can be reached at gamecockudesk® hotmail.com Pageant CONTINUED FROM PAGE 1 Auditorium. She enjoyed a hometown advantage with an enthusiastic group of fans who rushed to the foot of the stage seconds after she was crowned. “They definitely helped. I heard them, and I was so appreciative of them,” Raney said. Raney said she’s dreamed of being Miss South Carolina since she was 6. “I’m so excited and very honored. This is so special.” Raney, the daughter of Sam Raney and a business administration major, is a 1999 graduate of Chapman High School. Her service platform, teen suicide awareness and prevention, was inspired after her mother Rhonda’s suicide two years ago. As Miss South Carolina 2001, Raney earns $20,000 in scholarship money. Her first official duty was an 8:30 a.m. press conference Sunday. She will compete in the Miss America pageant in Atlantic City, N.J., which will be broadcast on ABC at 8 p.m. Sept. 22. Raney had been making her way toward a win throughout the week of the pageant. She won a preliminary swimsuit award Thursday when she wore a melon-colored bikini, and a tap dance to Harry Connick Jjr.’s “Just Kiss Me” earned her a preliminary talent award Friday. During a mini-interview Saturday with pageant host Bill Drake, Raney was asked why suicide and depression are such major problems among teens. In response, she highlighted the fact that South Carolina doesn’t have a law mandating that mental health receive equal health insurance coverage, and she advocated increased state funding. “A one to two percent increase is worth saving hundreds of lives,” she said. Miss Golden Corner, Cortni Bracken of Easley, was first runner up. Other finalists included Miss Greater Irmo Tiffanie Wallace and Miss North Myrtle Beach Courtney Stangry, both USC students. Raney was selected from among 42 contestants, each of whom had had a 12-minute interview with a five-member judges’ panel during the past week. Journalism Internet site raises money for charity by Ginny Thornton The Gamecock An undergraduate journalism class has launched a new Web site for USC students. In addition to gaining valuable journalism experience, the students raised $360 in advertising sponsorships to benefit Epworth Children’s Home, a private, not-for profit child and family organization in Columbia. Information about campus activities and organizations, local businesses, teacher profiles and entertainment can be found at www.U-SCoop.com. The class, “Survey of Mass Communications,” began the five week project in June. Led by professor Cal _ soliciting sponsorship from local businesses. Several area restaurants, bars and stores purchased U-SCoop banner ads, including Aquagrille, Bar None, The Cycle Center, Jake’s and The Pita Pit. “We asked places we knew wanted to advertise to USC students, our Web site target audience,” said Jennifer Rabon, U-SCoop’s public relations manager. “We were amazed at how willing they were to support us, especially when they knew their money would go directly to Epworth.” Epworth Children’s Home, located on Millwood Street, houses abandoned, neglected or abused children. They attend local schools and live in the 10 on-ground cottages at Epworth. Hamson, the 29 students designed, developed and marketed the site. “The purpose of this project was for the class to gain an understanding of how different sectors of journalism work,” Harrison said. “One day they’ll have careers in a specific field, like print journalism or advertising. Hopefully, this “We learned so much from this project. It was great practice for our future careers.” Jennifer Rabon Harrison said the decision to support Epworth Children’s Home was an easy one. “Not only did the students believe Epworth was a worthy cause, but they understood how charity support could lead to greater publicity for the site,” he said. “It was a win-win situation.” cApcuciH-c wm ncip uicni icuicmuci indeed it was: W1S-TV featured how all these fields interact as a U-SCoop on its July 6 “Sunrise” business. broadcast. Students in the class were divided into project groups according to their interests. There was an editorial team (“The Hacks”), advertising and public relations team (“The Flacks”) and design team (“The Starving Artists”). The class considered several site ideas, but they chose one for USC students because students have access to computers and are among the most frequent Web users. The site features articles — the responsibility of the editorial team — about saving money, managing credit cards and debt, choosing classes and professors, campus safety and Columbia nightlife. According to Jonathon O’Neal, U SCoop spokesperson, “The site will benefit students in a different way than the official USC sites. It gives students useful tips about the things they want to know, not just what the university thinks they need to know.” The advertising and public relations team was in charge of The class design team was in charge of graphics and development for the Web site. They purchased their own URL from Register.com, and with technology and Web-design help from professionals Virginia Tate and Faisal Siddiqi, the finished product was up and running by July 3. Some members of the class have expressed interest in continuing to maintain and update the site, but Harrison says the time and money involved could pose a problem. Though the site might be unavailable soon, Rabon cites the journalism skill the class gained as a lasting benefit of the experience. “We learned so much from this project,” she said. “It was great practice for our future careers.” The site will be online through the end of July at www.U-SCoop.com. The news desk can be reached at gamecockudesk@hotmail.com Great Roommate Floorplan! - Spacious 1, 2 & 3 Bedroom apartments available - Only 1 mile from USC! The R.mds APARTMENT ✓ H O M £~S Amenities Galore! Hurry.... They're going fast! #\ Catawba Circle • 779-5888