The University of Hawaii is in the midst of a $586 million construction boom financed by both taxpayer and university bonds.

UH President M.R.C. Greenwood told the Board of Regents last week that the university is helping boost the state’s economy and construction industry.

More than half of the money to pay for the projects comes from university-issued bonds that will be paid back through UH funds.

UH Chief Financial Officer Howard Todo said the university got a favorable

3.7 percent interest rate on this year’s bonds.

The projects financed by this year’s $100 million bond sale also include

$6 million for Sinclair Library basement renovation, $33.5 million in energy conservation and efficiency projects at UH community colleges and $28 million to pay part of the cost of a new Information Technology building.