ACCD News & Events

ACCD Trustees Plan 2005 Bond Implementation

For Immediate Release
December 2, 2005
Contact: Leo Zuniga, Director of Governmental and Public Relations
(210) 208-8112
lzuniga@accd.edu

The Alamo Community College District (ACCD) Trustees met last night to begin plans for the implementation of the $450 million capital improvement program approved by voters on November 8. The board heard presentations and discussed the construction management plan, financial provisions and bond sale schedule, bond procurement approach and schedule, and plans for naming a citizens oversight committee.

The estimated bond issuance schedule calls for the issuance of $50 million in bonds on February 2006, $250 million in February 2007, $100 million in February 2008, and $50 million in February 2009. The board emphasized that the debt maintenance tax rate on the bond projects should never exceed three cents per $100 valuation. The estimated senior citizen tax freeze impact on revenue was also discussed. Bond underwriters are expected to submit their request for proposals in mid December with the selection of bond underwriters and bond counsel by the ACCD trustees in January 2006.

All vendors and contractors are encouraged to preview all bid solicitations through the ACCD main web page at www.accd.edu/cip. The ACCD trustees decided that names of vendors and contractors contacting them directly will be forwarded to the appropriate persons for compilation and maintenance of a list for public viewing.

John Strybos, ACCD Director of Facility Operations and Construction Management, presented the board with a preliminary listing of priority construction projects by college for years one through four. Master plans for Northwest Vista College and Northeast Campus construction projects will be presented to the board during the first quarter of 2006. None of the 2005 bond projects will require the purchase of land.

Following the model established for the ACCD Citizens Capital Improvement Program, ACCD trustees will name a citizens bond oversight committee within the next sixty days.

The Alamo Community College District has four colleges and three satellite campuses: San Antonio College, St. Philip’s College, Palo Alto College, Northwest Vista College, Southwest Campus, Advanced Technology Center, and Northeast Campus.