2004 Nov 03
For Immediate Release
2004 Bond Election
For Immediate Release
November 3, 2004 - Voters in Maricopa County decisively endorsed the sale of $951 million in capital bonds for the benefit of students at the Maricopa Community Colleges. With all precincts counted, statistics from the county election department show 76% of all voters endorsed the measure.
"It's all about access and opportunity," said Chancellor Rufus Glasper. "Our community has demonstrated that it wants to provide that access and that opportunity to our students so we can add more classrooms and not have to turn away students in the first two weeks of classes."
The Maricopa Community Colleges Governing Board voted in July to ask voters to consider the measure after considerable review of student growth projections, program requirements, and existing facilities that are aging."Strategic planning is an ongoing process at the Maricopa Community Colleges," explained Board President Linda Rosenthal."The colleges, faced with several facilities issues, told board members they must expand to meet the needs of their communities. We listened, and fortunately voters understood just how important the measure is to our vast county."
Under state law, community colleges must seek voter approval for major capital improvements, which are typically completed through the sale of bonds. Passage of Proposition 401 means that county residents with property at an assessed value of $100,000, will see an increase in their property taxes of $15.83 annually.
Each of the ten Maricopa Community Colleges, along with its two skill centers and several learning centers will benefit from the proceeds of the bonds. The majority of the funds will construct new classrooms, labs and learning spaces. Support facilities, such as mechanical, electrical and restrooms will also be constructed as part of several planned projects. Office, faculty support, community use and fitness facilities round out the majority of other spaces set for construction. For additional information, citizens may visit: www.maricopa.edu/bond
Although the bond program is structured for interval sales over a 20 year period, the district has a history of finding ways to streamline costs and repay its debt earlier than planned. This fiscal accountability has earned the Maricopa Community Colleges triple-A bond ratings by independent ratings firms such as Moody’s and Fitch.
The Maricopa County Community College District is one of the largest community college districts in the nation. It includes 10 colleges - Chandler-Gilbert Community College, Estrella Mountain Community College, GateWay Community College, Glendale Community College, Mesa Community College, Paradise Valley Community College, Phoenix College, Rio Salado College, Scottsdale Community College and South Mountain Community College. The District also includes the Maricopa Skill Center, Southwest Skill Center, several satellite campuses and business/industry, technical and customized training institutes and serves more than a quarter million students annually. For more information: 480-731-8333, 480-731-8000 or www.maricopa.edu
District News: http://www.dist.maricopa.edu/marketing/nr
Workforce news: www.maricopa.edu/workforce