Sale of bonds approved for Los Rios projects

Published: Saturday, May. 11, 2013 - 12:00 am | Page 2B
Last Modified: Sunday, May. 12, 2013 - 3:04 pm

Trustees of the Los Rios Community College District this week authorized the sale of $80 million in general obligation bonds to raise funds for a variety of projects, including $16 million for a gymnasium at Folsom Lake College.

Jon Sharpe, Los Rios deputy chancellor, said that about $20 million in bonds would be issued under the district's Measure A, which voters approved in 2002.

In addition to funding the gymnasium, the proceeds would help fund a portion of two other projects: American River College's Life Science and Fine Arts project as well as $2.6 million for site improvements for Folsom Lake College's planned Rancho Cordova Center.

The other $60 million, part of the district's voter- approved Measure M of 2008, will fund a variety of projects in the district.

Among them: remodel and expansion of ARC's culinary arts facilities for $9.5 million and a $8.5 million remodel of a planned Economic Development Program facility on Tribute Road near Cal Expo.

The program provides training for students and for employees and prospective employees of area businesses and industries.

The Measure M proceeds also will provide $6.1 million to remodel Lusk and Rodda halls at Sacramento City College, Sharpe said.

The general obligation bonds – repaid through property taxes – are to be retired over a 25-year period. They are scheduled to go to market June 11.

Call The Bee's Loretta Kalb, (916) 321-1073. Follow her on Twitter @LorettaSacBee. Read her Report Card blog at http://blogs.sacbee.com/report-card/.

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