MassDevelopment issued a $45.7-million tax-exempt bond on behalf of The Trustees of the Smith College to complete a range of renovation projects at the college’s Northampton campus. Barclays Capital, serving as the lead underwriter, sold the tax-exempt bonds through a public offering.

Smith College will use bond proceeds to renovate HVAC and air-handling systems at the Burton and Sabin-Reed science buildings, renovate the HVAC system at Sage Hall, replace a combustion turbine to be used for backup power generation, make accessibility upgrades to various campus buildings, complete stabilization work along the bank of the Mill River and make repairs to Lamont Bridge.

“For more than 150 years, Smith College has been an important part of Massachusetts’ academic community and talent-driven economy,” said Economic Development Secretary Eric Paley, who serves as chair of MassDevelopment’s board of directors. “This financing will help Smith invest in its Northampton campus and ensure it continues to serve generations of students and faculty for years to come.”

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