Victoria College To Hold Informational Session for 2023 Bond Election
The community will have an opportunity to learn more about Victoria College’s May 6 bond election at Bond Informational Session is scheduled for April 18th.
The session will be held at 5:30 p.m. on Tuesday, April 18 at the Student Center on VC’s Main Campus located 2200 E. Red River Street.
At a special meeting on Feb. 13, VC’s Board of Trustees unanimously voted in support of the $10 million bond election for construction of a Student Success Center. The estimated cost is $36.5 million for a three-story expansion and renovation of the current facility and related infrastructure enhancements.
VC has committed $26.6 million – or nearly three-fourths of the total project cost – in grants, gifts, and institutional funds. VC’s Board of Trustees is asking voters to consider the $10 bond issue to fund 27 percent of the project.
The proposed bond would result in a tax rate increase of 0.21 cents per $100 of valuation for three years, bringing the property tax rate to 3.41 cents for the debt service portion used to pay bonds. The tax rate would then decrease 0.58 cents to 2.62 cents in 2027 due to voter-approved bond debt that will be paid off. For a homeowner with residential property valued at $100,000, this would translate to an increase of $2.10 per year for three years and then a decrease of $5.80 in 2027.
The bond election will be held Saturday, May 6. Early voting will begin on April 24 and run through May 2. The last day to register to vote in the election is April 6. For information on how to register to vote, visit VoteTexas.gov.
For more information on the bond election, visit VictoriaCollege.edu/Bond23 or email Bond23@VictoriaCollege.edu.