Moving on with the Nov. bond
On Nov. 3, 2009, COCC district voters approved a $41.58 million bond to provide funds for capital construction and improvement projects for COCC.
The college is now waiting for an authorizing resolution from its board of directors, which is “an exciting time,” says Kevin Kimball, COCC’s Chief Financial Officer.
An authorizing resolution will maintain the college’s schedule to sell bonds and will occur April 14. If approved by the board, the bond sale will take place May 25 and close June 17.
“Current factors are: selling the bonds, the general economy, and whether or not the interest rates will stay low between now and May,” says Kimball.
The actual money COCC receives from the bond will be determined during the bond sale and is dependent on the general market conditions, as stated in a draft of a 2010 Bond Issue Q and A, prepared by Kimball.
COCC’s Director of Campus Services, Gene Zinkgraf, is in charge of coordinating and directing the bond projects and will be the full-time manger of construction in a couple of months.
“We are currently in the process of actively designing the new Health Careers and Design buildings for the COCC campus,” says Zinkgraf, referring to one of the bond’s intended construction projects.
New college buildings will also be constructed outside of Bend, including a new technology building on the Redmond campus and buildings in Madras and Prineville where COCC does not yet have any physical structures.
“It’s exciting to see some of the changes in Madras and Prineville,” says Kimball. “Once open, you won’t have to come to Bend to get an education.”
Right now, the college is trying to spend the bond’s money effectively to accomplish what it promised the voters, says Kimball.
According to him, the bond should have a positive impact on students throughout the college district.
“It will help redefine education in Central Oregon for the next decade,” says Kimball.
You may contact Tobey Veenstra at firstname.lastname@example.org
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