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Retirement of Debt

Project Summary

  • Releases at least $3 million annually from the general fund to support current training, general education programs, and ongoing campus maintenance.
  • More than 20 campus buildings used by Victor Valley College students today have been added, expanded, improved or maintained with these funds.
  • No local general obligation bonds have been available for more than 40 years to help Victor Valley College grow with our community.

 

Documents and Certificates of Participation (COP) : Details

It is not unusual for a Community College District to use Certificates of Participation to fund campus improvement projects between bond measures. In addition, it is not unusual for a Community College District to then use money from an approved bond measure to retire what remains of that past funding from Certificates of Participation (COPs). The following documents detail what campus additions/improvements at VVC were funded by the 1997 Certificates of Participation, and also what other California Community College Districts have used their own local bond measures to pay off remaining COPs.