Lake Superior State University’s Board of Trustees Approves Performance Contract

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LSSU SIGNS PERFORMANCE CONTRACT – LSSU President Rodney Hanley, right, signs a 30-year performance contract with Dave Peters from Johnson Controls International (JCI). The performance contract is a positive step forward for the university as it addresses deferred maintenance needs and energy savings across campus.

SAULT STE. MARIE, Mich. – The Lake Superior State University Board
of Trustees approved a performance contract between the university and
Johnson Controls International (JCI) during a special meeting held June 28
where Board Chair Rodney Nelson declared, “It’s a big day for Lake State.”
The 30-year performance contract will address many needs on campus.

The approval of the contract “sets the stage for us to do a number of things,
the first being able to address our deferred maintenance issues,” stated LSSU
President Rodney Hanley. “We are taking a very progressive, proactive
approach toward our deferred maintenance issues.”

With the performance contract in place, LSSU will be able to realize
energy savings over many years and have the ability to track these savings. In
addition, Hanley noted, “These kinds of sustainability efforts have the
potential to make a positive impact on the development of curriculum at the
university, student projects, and the contribution to environmental
sustainability overall throughout the region.”

Upon approval of the contract, LSSU VP of Finance Morrie Walworth
thanked Thrun, the bond counsel; Public Financial Management (PFM), the
financial advisor; Stifel, the underwriter; and JCI for working together to reach
such an excellent outcome.

For more information about LSSU and the performance contract,
please contact the LSSU Marketing and Communications Department at 906-
635-2315 or visit www.lssu.edu.