Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax-Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet Attach to Form 990.
SchKMediumBulletInformation about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2016
Open to Public
Inspection
Name of the organization
Trustees of Boston University
 
Employer identification number
04-2103547
Part I
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer		 (i) Pool
financing
Yes No Yes No Yes No
A MASS DEV FIN AGENCY - SERIES AA-1 AND AA-2
  		04-3431814 000000000 09-30-2015 162,740,000 REFUNDING 2005 BOND ISSUE   X   X   X
B MASS DEV FIN AGENCY -SERIES U1 U2 U3 U4 U5 U6
  		04-3431814 57583RWD3 05-15-2008 536,365,000 PARTIAL REF/CAP PROJ/PROP ACQ X     X   X
C MASS DEV FIN AGENCY-SER BB-1 BB-2AND BB-3(2016)
  		04-3431814 57584XWV9 11-08-2016 231,838,996 CAP PROJ/ADV REF 2008 & 2009 BONDS   X   X   X
D MASS DEV FIN AGENCY - SERIES X (2013)
  		04-3431814 57583UVL9 04-30-2013 120,736,790 CAPITAL PROJECTS   X   X   X
(2) MASS DEV FIN AGENCY-SER Y Z-1 AND Z-2(2014)
  		04-3431814 57583UL89 09-30-2014 108,370,000 REFUNDING 2004 & 2009 BOND ISSUES   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired .................. 0 89,375,000 0 0
2 Amount of bonds legally defeased .............. 0 50,000,000 0 0
3 Total proceeds of issue .................. 162,740,000 539,836,174 232,127,032 120,780,965
4 Gross proceeds in reserve funds ............. 0 0 0 0
5 Capitalized interest from proceeds ............. 0 0 0 0
6 Proceeds in refunding escrows ............... 0 0 0 734,856
7 Issuance costs from proceeds ............... 0 863,269 1,035,243 0
8 Credit enhancement from proceeds ............. 0 727,358 0 0
9 Working capital expenditures from proceeds ............. 0 0 0 0
10 Capital expenditures from proceeds ............. 0 202,745,547 51,199,096 120,046,109
11 Other spent proceeds ............. 162,740,000 335,500,000 105,744,237 0
12 Other unspent proceeds ............. 0 0 74,148,456 0
13 Year of substantial completion ............. 2012 2015
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? .... X   X     X   X
15 Were the bonds issued as part of an advance refunding issue? .....   X   X X     X
16 Has the final allocation of proceeds been made? .......... X   X     X X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? .................. X   X       X  
Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .............   X   X   X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? ............... X   X     X X  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2016

Schedule K (Form 990) 2016
Page 2
Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? ............. X   X   X   X  
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? X   X   X   X  
c Are there any research agreements that may result in private business use of bond-financed property? ............. X   X   X   X  
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? X   X   X   X  
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government ....SchKMediumBullet 0.790 % 0.085 % 0 % 0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government ......... SchKMediumBullet        
6 Total of lines 4 and 5 ............. 0.790 % 0.085 %    
7 Does the bond issue meet the private security or payment test? ...   X   X   X   X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............   X   X   X   X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..        
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............   X   X   X   X
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? ........ 		X   X   X   X  
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...   X   X   X   X
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......   X   X X   X  
b Exception to rebate? ........   X   X   X   X
c No rebate due? ......... X   X     X   X
If "Yes" to line 2c, provide in Part VI the date the rebate
computation was performed ......
3 Is the bond issue a variable rate issue? ..... X   X     X   X
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X X     X   X
b Name of provider .......... 0
  		SEE PART VI
  		0
  		0
 
c Term of hedge ......... 25 %      
d Was the hedge superintegrated? ......   X   X   X   X
e Was the hedge terminated? ........   X   X   X   X
Schedule K (Form 990) 2016

Schedule K (Form 990) 2016
Page 3
Part IV
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?   X   X   X   X
b Name of provider .......... 0
  		0
  		0
  		0
 
c Term of GIC .........        
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........                
6 Were any gross proceeds invested beyond an available temporary period?   X   X   X   X
7 Has the organization established written procedures to monitor the requirements of section 148? ... X   X   X   X  
Part V
Procedures To Undertake Corrective Action
--------------------------------------------------------------------------------------------------------------- A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part VI
Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference Explanation
SCHEDULE K, PART I, LINE A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (MDFA) SERIES AA-1 AND AA-2 BONDS IN THE AMOUNT OF $162,740,000 WERE ISSUED TO CURRENTLY REFUND MDFA SERIES T1 BOND OF THE SAME AMOUNT.
SCHEDULE K, PART I, LINE B MDFA SERIES U-1, U-2, U-3, U-4, U-5, AND U-6 BONDS IN THE AMOUNT OF $536,365,000 WERE ISSUED TO CURRENTLY REFUND MDFA SERIES R AND MASSACHUSETTS HEFA SERIES Q BONDS, ISSUED IN 2002 AND 2001, RESPECTIVELY, IN THE AMOUNT OF $336,365,000. THE BALANCE OF SERIES U PROCEEDS IN THE AMOUNT OF $200,000,000 WERE NEW MONEY BONDS.
SCHEDULE K, PART I, LINE C MDFA SERIES BB-1, BB-2, AND BB-3 BONDS IN THE AMOUNT OF $231,838,996 WERE ISSUED TO ADVANCE REFUND MDFA SERIES U-4, ORIGINALLY ISSUED IN 2008, IN THE AMOUNT OF $50,000,000 AND MDFA SERIES V-1, ORIGINALLY ISSUED IN 2009, IN THE AMOUNT OF $44,000,000. PROCEEDS OF MDFA SERIES BB-1 IN THE AMOUNT OF $125,603,699 WERE NEW MONEY BONDS.
SCHEDULE K, PART II, LINE 3, COLUMNS B-D COLUMN B: TOTAL PROCEEDS OF $539,836,174 IS COMPRISED OF THE ISSUE PRICE IN THE AMOUNT OF $536,365,000 AND INVESTMENT EARNINGS TOTALING $3,471,174.
SCHEDULE K, PART III, LINES 4 & 5, COLUMNS A-D (INCLUDING SERIES Y) THE UNIVERSITY FINANCES CAPITAL PROJECTS WITH BOTH EQUITY AND DEBT AND MADE A TIMELY ELECTION TO ALLOCATE EQUITY PROCEEDS TO ANY PRIVATE BUSINESS USE FOR THE REFERENCED DEBT ISSUES. IF PRIVATE BUSINESS USE FOR THE REFERENCED DEBT ISSUES DOES NOT EXCEED THE EQUITY ALLOCATION, THE PRIVATE BUSINESS USE IS REPORTED AS 0.00%.
SCHEDULE K, PART IV, LINE 2C THE REBATE COMPUTATION FOR MDFA SERIES T1 BOND, WHICH WAS REFUNDED BY MDFA SERIES AA-1 AND AA-2 BONDS, WAS PERFORMED IN JUNE 2010. THE REBATE COMPUTATION FOR THE SERIES U-1, U-2, U-3, U-4, U-5, AND U-6 BONDS WAS PERFORMED IN MAY 2013. SCHEDULE K, PART IV, LINES 4A & 4B, COLUMN B THE HEDGES THAT ARE ALL OR IN PART IDENTIFIED WITH MDFA SERIES U-1, U-2, U-3, U-4, U-5 AND U-6 BONDS ARE AS FOLLOWS: WELLS FARGO: 30 YEARS, GOLDMAN SACHS: 20-33 YEARS, MERRILL LYNCH: 33-34 YEARS, AND DEUTSCHE BANK: 34 YEARS.
SCHEDULE K, PART IV, LINE 6, COLUMNS A-B UNSPENT PROCEEDS THAT WERE NOT DRAWN FOR CAPITAL EXPENDITURES DURING THE PRESCRIBED AVAILABLE TEMPORARY PERIOD WERE NOT INVESTED ABOVE THE BOND YIELD.
SCHEDULE K, PART I, LINE A(2) MFDA SERIES Y, Z-1, AND Z-2 BONDS WERE ISSUED TO CURRENTLY REFUND MDFA SERIES S BOND IN THE AMOUNT OF $35,000,000 AND MDFA SERIES V-2 AND V-3 BONDS IN THE AMOUNT OF $73,370,000.
SCHEDULE K, PART IV, LINE 2B, COLUMN A(2) THE PROCEEDS OF MDFA SERIES Y, OF WHICH 100 PERCENT WERE SPENT TO FINANCE CONSTRUCTION EXPENDITURES, WERE SPENT WITHIN TWO YEARS OF THE BOND ISSUANCE DATE. THEREFORE, THIS BOND ISSUANCE QUALIFIED FOR AN EXCEPTION TO REBATE UNDER INTERNAL REVENUE CODE SECTION 148(F)(4)(C).
Schedule K (Form 990) 2016

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