Oregon State University is joining the state's other big public universities in creating an independent managing board.

The University of Oregon and Portland State -- not Oregon State -- lobbied lawmakers for the power to create their own boards.

OSU president Ed Ray says his institution is creating a board because it was the only way to gain new powers -- like selling their own bonds or doing real estate transactions.

"To get any real operating flexibility, we would need to go in the direction of an institutional board," Ray said.

Lawmakers and a new Higher Education Coordinating Committee will still have some power over OSU, UO, and PSU.

The Oregon Institute of Technology and the three regional universities will still have the additional oversight of the state's Board of Higher Education.

The new independent boards could help with fundraising. But President Ray says OSU is doing well in that regard -- having raised $950 million in its one-billion dollar campaign.

This story originally appeared on Oregon Public Broadcasting.

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