AC Board Votes to Acquire New Line of Credit

Amarillo College Regents voted on Thursday night to pick up a new $5 million line of credit with Amarillo National Bank.

During a special meeting held at the Washington Street Campus, the board voted unanimously to approve the item. Jay Barrett, the board’s chairman, made the motion to approve the item, with a second by Regent Peggy Thomas.

Amarillo College President Dr. Jamelle Conner explained the item to the board and highlighted the potential benefits AC could see from acquiring the credit line.

“It’s standard practice at several institutions,” Dr. Conner said.

Conner explained the line of credit could be used to address funding gaps, emergency repairs, and critical facility needs. Conner said the line of credit would provide “operational flexibility” with a low interest rate for the college.

The meeting can be watched at the link below.