Bond FAQs

How much is the bond for and how long is it for? The total amount of bonds that will be issued is $951,359,000 and each bond issue will be repaid over no more than 20 years. The buildings built by these bonds should be completed within ten years.
How are the bonds paid for and how much will the passage of the 2004 bond cost me?
The bonds are paid from property taxes levied on all property owners in Maricopa County. For a home valued at $100,000, the annual cost will average $15.83, about $1.32 per month or 30 cents a week.
How will passage of the bond help prevent significant tuition increases? More students require more classrooms, more laboratories, more technology, more parking and more equipment. Every institution handles the needs associated with growth differently. Some colleges and universities are forced to implement enrollment caps, some simply raise tuition by a thousand dollars or more, while some have significant endowments that allow programs to be developed and facilities to be built with minimal additional expense to students.

Accessibility and affordability are taken seriously by the Maricopa Community Colleges. In order to keep classes small, keep educational quality high and keep job training current, the Maricopa Community Colleges use a number of resources to fund the programs, services and facilities required by a growing student population.

Those resources include tuition, property taxes and state funding. Additionally, General Obligation Bonds provide funding for the construction of classroom, lab and instructional buildings and equipment to meet the demands of student growth. When these bonds are issued, all property owners in Maricopa County share the cost of construction. This prevents those costs from being solely passed on to students. Thus, tuition can remain lower for students and primary sources of funding can be dedicated to operating facilities that meet the instructional needs of faculty and provide classroom support.

As state support continues to decline, a larger portion of college operating costs are currently borne by tuition and fees. Placing the additional burden of large capital development on income from tuition and fees would most likely result in tuition increases and in some enrollment and facility restrictions.
Why do the Maricopa Community Colleges need almost a billion dollars? The State of Arizona provides 12% of the operating budget for the Maricopa Community Colleges. The rest is paid for by students and Maricopa County taxpayers. However, the bonds are not used for operational funds, only for capital funding. In other words, the bonds pay for buildings, parking lots, sidewalks, classrooms, offices, laboratories, equipment and land. The State provides almost none of the money needed for these items.

With annual student growth exceeding population growth in the county, it is projected that almost 400,000 students will be attending the community colleges every year by 2010. Master plans, prepared by each of the colleges and the District in a public process over the past two years, have shown that current classroom and laboratory space and facilities will not be adequate to meet the needs of that many students.
How do I know the money will be spent to really serve the students and citizens? By law, funds will be used to increase classroom and laboratory space, expand libraries, remodel aging and obsolete campus facilities, implement energy efficiency measures, renovate instructional space, purchase land, improve security of buildings, maintain parking lots and for other capital needs. No operational costs of faculty or staff - no salaries - are included in this plan.
New and expanded facilities usually require additional operating costs. Are they included in this request? Beginning in 1994, the District Governing Board has required that no new construction can proceed without a specific plan to cover operating costs and without having the operating costs fully designated. Buildings authorized under the 1994 bond were opened on schedule and with operating costs fully funded. The Governing Board is continuing this same policy and operating funds will be clearly identified prior to completion of construction.
How will the funds be divided among the colleges? Each college has spent the last few years preparing their master plans, meeting with their communities, planners and their employees. Each college will receive funds to meet the growth projections identified for that area. All ten college presidents and the administration agreed on a final master plan for the entire district and all colleges will receive their funds based on those plans.
Does the District have adequate fiscal controls for issuing these bonds? The District keeps close track on all expenditures and its credit quality is rated by major national bond-rating firms. The Maricopa Community Colleges have received the highest Bond rating available – AAA – from two of the major national bond rating agencies.
Is there a Maricopa Community College near my home or business? The Maricopa Community Colleges are all part of one District and serve all the citizens in a county that encompasses 9,226 square miles. In addition to our various campus locations, Rio Salado College conducts classes in 250 locations throughout the country. Chances are there is a Maricopa Community College or Education Center in or near your neighborhood. There are few urban communities, if any, in the entire county that are not within easy reach of a Maricopa Community College or Education Center. Since 1962, when the Maricopa Community College District was established, its philosophy has been to make higher education readily accessible to everyone throughout the Valley, and as the Valley continues to grow, colleges and centers have been added to meet that demand. Arizona ranks highest in the nation among adult populations attending community colleges.
What new technology will be acquired? Some equipment becomes outdated in a few years due to rapidly changing workplace technology and must be replaced if we are to instruct students with tools now being used in the workplace. These funds will allow us to acquire new equipment in areas such as automotive, engineering and industrial programs, dental and medical technology, biotechnology and other areas.
Can employees be involved in the bond election? No employee of the Maricopa Community Colleges may spend any employment time or public resources to influence the outcome of an election. Employees may exercise their right to vote either by mail or on election day and may express their opinion and exercise their constitutional rights during non-work hours.
Why aren’t the Maricopa Community Colleges running a campaign for the bond? During work hours, the Maricopa Community Colleges and their employees are prohibited by law from attempting to influence the outcome of any election. However, the Maricopa Community Colleges may continue to educate the public and publish fair and honest information regarding their plans and future.

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