WATERVILLE, Maine (AP) — Not a penny of the $100 million Colby College plans to spend on programs and capital improvements, including a new sports complex and performing arts venue, will have to come out of its endowment. There's no indication that colleges and universities are going to embark on a building spree, but they are taking advantage to refinance at more favorable rates or to take out loans for new projects, said Matt Hamill of the National Association of College and University Business Officers. At Colby, a number of projects are being contemplated, including a new venue for musical and dance performances as well as an improved athletics complex, in addition to financial aid and career programs, said spokeswoman Ruth Jackson.