DACC to consider bond for technology upgrades
DANVILLE — Danville Area Community College trustees on Tuesday could take another step toward issuing $1 million in technology and equipment bonds to continue upgrading technology on campus.
Trustees will vote on an intent to issue bonds and to hold a public hearing on the matter in November.
The Danville Area Community College Board of Trustees will meet at 7 p.m. Tuesday. The meeting is in Vermilion Hall, Room 302, at the campus, 2000 E. Main St. A copy of the agenda and board packet is available online at http://bit.ly/UeiZWC.
If all goes as planned, the board would approve the sale of the bonds in December, and the college could have the money within the first week of January, said Tammy Clark-Betancourt, DACC's chief financial officer.
"We could start the process of looking at equipment and the bid process at that time," she said.
Trustees started the process in September when they approved retaining Chapman and Cutler LLP of Chicago as the college's bond counsel and authorizing the firm to prepare the necessary legal proceedings. They also approved retaining First Midstate Inc. of Bloomington as the bond underwriter.
President Alice Jacobs said the money would be used over a two-year period to replace high-tech instructional equipment, computers and other technology that are on a replacement cycle.
"We're certainly pleased with the support from the board of trustees for acquiring the funds," Jacob said. "It's critical that we provide this high-quality, state-of-the-art equipment for our instructors and students."
Also at the meeting, trustees will vote on whether to accept the 2012 fiscal year audit, prepared by Clifton Larson Allen LLP. Trustee Dick Cheney, who served on the board's audit committee with Trustees Sandi Randall and John O'Rourke, will make a presentation.
"It's in a new format," Jacobs said, adding the year-end financial report contains much more data about the college, the district and historical data, among other things.