VALLEJO — Solano Community College trustees gave the OK Wednesday to issue the first batch of Measure Q bonds not to exceed $120 million and to create an executive bonds manager to oversee the implementation of the bonds.
Solano and Yolo County voters approved Measure Q in November. The $348 million general obligation bond aims to make improvements to district buildings and expand college programs.
The tax rate is 18.99 percent per $100,000 of assessed valuation.
It will be at least a year before any new facilities are built, said Yulian Ligioso, Solano College’s vice president of finance and administration.
The board met in closed session to acquire additional property for the expansion of the Vallejo center. All are located in close proximity to the Vallejo center.
Board also approved the creation of an executive bonds manager position to oversee all aspects of the bond. In addition, the bonds manager will oversee the completion of the Measure G bond.
Measure G is a general obligation bond of $124.5 million approved by Solano County voters in 2002.
According to the governing board agenda, the executive bonds manager will be placed on the highest pay scale range offered by the district. Range 54 begins at $141,000 and ends at $161,745. It is not yet where the executive bonds manager will fall within this range.
The new position will be paid entirely by Measure Q money.
Ligioso said after the meeting that an Attorney General’s Office opinion allows the district to hire someone with bond proceeds.
“Before that opinion, we really couldn’t do it,” he said.
Reach John Glidden at 427-6983 or email@example.com.