Does anyone know what this means?

The following tax-exempt fixed-income issues are scheduled for pricing this week:

Massachusetts Health and Educational Facilities Authority, $62.9 million of revenue bonds for Williams College. Morgan Stanley.

Why does the College, with its $1.5 billion endowment, need to sell bonds? What interest rate does it pay on these bonds? What sort of fees does Morgan Stanley generate from the deal? Do peer schools raise money in a similar way?

I am confused.

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