Terry Berg, dean of finance and administrative services, said the rate would cover the issuance of another $16 million in bonds that are part of the 2007 plan to expand the campuses to increase enrollment in nursing and medical professions.
Currently, work is under way on a new science building on the Washington Street campus and a new building for the nursing and dental programs on the West campus.
expects the interest rate on bonds to be favorable despite the current tight financial market, with the Standard & Poorâ€™s service upgrading ACâ€™s bonds to AA+ and Fitch Ratings setting a AA rating while noting a stable outlook for the bonds.
Although ACâ€™s enrollment is down over the past two years, the Texas Legislature approved a supplemental formula for the stateâ€™s community colleges that will set the stateâ€™s portion of the AC budget at the same amount as for the past biennium â€" $17,153,266 a year for the next two years, Berg
The increase makes the district unique, Berg
said, explaining that the Dallas Community College district preliminary property values dropped 5 percent in the past year.