Delaware Art Museum to Pay off $19.8M Bond Debt - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Delaware Art Museum to Pay off $19.8M Bond Debt

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WILMINGTON, Del. (AP) - The Delaware Art Museum says its $19.8 million bond debt is set to be paid off.

The board of trustees said Wednesday that the debt, issued in 2003 to pay for the museum's expansion, will be paid on Tuesday.

The trustees voted in March to sell up to four works of art to pay the debt. The News Journal of Wilmington reports (http://delonline.us/1vcyPkv) that the sale of two works, plus funds from the museum's investment portfolio, helped make the debt payoff possible.

The museum has one of the most significant pre-Raphaelite collections outside of the United Kingdom.

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