Bond Measure S

In December 2001, the Ventura County Community College District's Board of Trustees approved a resolution for the placement of a bond initiative on the March 2002 Ventura County election ballot as Measure S. At the March 5 election, the citizens of Ventura County approved the issuance of bonds totaling $356.3 million for construction and rehabilitation of facilities on the three community college campuses and the Camarillo site.

The series A bond issue represents the first series under the $356.3 million authorization. The following table shows the issuance schedule as of the date of Series A.

The majority of the series A proceeds, 75.2 million, will be used for construction of new campus facilities, replacing and repairing buildings, modernizing classrooms, and constructing the Fire/Police/Sheriff's Academies, while the remaining $9.8 million will be used to decrease the 1998 Certificates of Participation outstanding balance.

At the meeting of the Board of Trustees on May 28, 2002, a Citizens Oversight Committee was established in response to Education Code Section 15278. The Citizens Oversight Committee has the statutory responsibility to inform the public concerning the district's expenditure of revenues received from the sale of the Measure S bonds.

The Capital Planning, Design and Construction office was assigned the responsibility for the management of the Measure S bond program.