Authority to Borrow $15-Million
Fri August 30, 2013
SCC Bond Issue
Southeastern Community College is seeking voter approval for its proposal to borrow up to $15-million to pay for future facility improvements.
The question will appear on the Sept. 10 school election ballot in at least a portion of seven southeast Iowa counties, including Lee, Des Moines & Van Buren.
Becky Rump, SCC's Executive Director for Institutional Advancement, says the money would go towards a variety of projects.
She says one would be the addition of more all-purpose space on the West Burlington and Keokuk campuses for students to study or socialize between classes.
"That keeps them at the college so they do not have to leave to do simple things," says Rump, "and it also helps improve retention."
Another project would be the replacement of health and science labs on both campuses.
"They were state-of-the-art when they were installed," says Rump, "but 20 years later, they are no longer state-of-the-art."
Rump says this bond issue should not impact the college’s property tax rate because the final payment for a similar bond issue will be made next year, allowing the levy to remain in use.
She says the new money would be paid back over 20 years.
Rump says 60% approval is needed for the ballot question to be approved.