WASHINGTON, Feb 25 (Reuters) – The University of California sold about $2 billion worth of general revenue bonds in the municipal market on Wednesday while U.S. President Donald Trump attempts a crackdown on the educational institution and other top schools.
“The Regents (of the University of California) continue to monitor the federal government’s actions with respect to the higher education sector and, in particular, the university,” a bond document said. It added that the university would use the proceeds from the sale to finance or refinance its projects.
The university system sold $2.2 billion of municipal bonds in December.
Last year, Trump tried to freeze hundreds of millions of dollars in federal funds for the University of California, Los Angeles, which is part of the UC system, over pro-Palestinian protests, but a judge later directed that those be restored.
On Tuesday, the Trump administration sued the University of California system, alleging discrimination against Jewish and Israeli employees at UCLA. The university says it has taken steps to combat discrimination.
By Kanishka Singh