Amarillo College’s 2019 Bond Election
Amarillo College’s Board of Regents unanimously voted to fast track a bond proposal earlier this year, seeking for voters to approve $89.2 million in bond issuance to pay for college facilities. In order to make an informed decision this May 4th, here’s what you need to know about this bond issue.
What the ballot says:
“The issuance of $89,206,000 of bonds by the Amarillo Junior College District for the construction, acquisition, renovation and equipment of school buildings for the district, the purchase of necessary sites therefore, and the levying of the tax for payment thereof”
What does this mean?
Amarillo College regents identified several key projects through a master plan developed by an outside consultant. The original plan included a price tag much higher than the proposed bond issue, but regents cut down the master plan into an $89 million package to renovate, repair, and replace select school facilities. If this item is approved, Amarillo College will take on $89 million in new debt, which will be paid off in the form of a property tax increase for residents of the college district.
What’s included in the bond?
Amarillo College has not released a specific list of what items are included in the May 4th bond. However, the original master plan which included all identified projects for the college district, some of which are not included in this plan, can be found here.
What will passage of this bond mean for my tax bill?
If Amarillo College voters choose to pass this bond, regents have said taxpayers could expect a tax increase of about 14 percent.
Is this the first Amarillo College bond?
No. The most recent Amarillo College bond was passed in 2007, which carried a price tag of about $68 million. That bond passed with around 64 percent of the vote, and included items for nursing programs and maintenance of the college. The 2019 bond will be the first such proposal under college president Russell Lowery-Hart’s tenure.