NORTHERN CALIFORNIA – The Yuba Community College District reported that it has issued the remaining $33.5 million in bonds approved by voters in 2016 as Measure Q.
The district – which spans eight counties, including Lake – said these bonds represent the remainder of the original $190 million bond issuance originally approved by voters in 2006 as Measure J.
This latest issuance will allow the district to access needed funds for the acquisition and improvement of real property and the furnishing, building and equipping of school facilities across the district, officials reported.
“By issuing the remainder of these already approved bonds, the Yuba Community College District can continue to upgrade our campuses,” said Douglas Houston, Chancellor of the Yuba Community College District.
“Community colleges are more vital than ever before. Yuba Community College gives our citizens the advantage they need to be able to compete in today’s new economy. The bonds overwhelmingly approved by voters in 2006, have helped to stimulate our local economies, improve programs to keep pace with today’s rapidly changing workplace and helped produce a prepared and well-educated workforce for tomorrow,” Houston said.
The previous issuance of bonds – totaling $156.5 million – have been used to construct the Colusa and Sutter centers, repair leaky roofs and deteriorating plumbing, upgrade science, math, engineering, technology and vocational education classrooms, improve and expand facilities for nursing and health care training and expand classrooms for good paying careers in construction, agriculture, police science and firefighting.
The district also encompasses Woodland Community College, whose Lake County Campus in Clearlake has benefitted from the bonds through several major building projects including the new life science, library resource and administration building, and culinary arts facility.
District officials said the bonds were sold on Oct. 16 through a competitive bid and the winning interest rate bid was 1.88 percent. The remaining $33.5 million of the 2006 bonds were issued on Oct. 31.
The Yuba Community College District worked with financial advisor Dale Scott & Co of San Francisco to provide advice, counsel and execution of the bond financing.
Yuba Community College District issues update on bonds
- Lake County News reports
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