BONDED LEVY PASSED!!
Nearly 70% of Participating Voters Approved SCC's Bonded Levy
Persons voting in the September 10, 2013 school board election provided a 69.2% approval
of the ballot question asking them continue a bonded levy for physical plant purposes at
Southeastern Community College. Bonded levies require a 60% supermajority. This election
marks the third time since 1990 that SCC has received voter approval for a bonded levy.
The current SCC physical plant bonded levy was approved in 1995 for a 20-year period that
ends in 2014. It generates about $700,000 per year to service the debt on $4.5 million in
bonds that were sold to fund projects that occurred between 1995 and 2014. Funds have
only been used for the allowable purposes of building and property maintenance, renovation,
new construction, infrastructure, and land and equipment purchases.
Area voters have approved bonded levies twice since 1990. The levy approved in 1990
lasted for ten years and funded the first phase of the College’s two-phase physical facilities
plan. To accomplish the second phase of the plan, voters approved a second, overlapping 20year bonded levy in 1995. The second levy will expire in 2014. The third levy will begin
immediately after the second levy expires.
With the September 10 ballot measure approval, the College will have the authority to sell
bonds totaling no more than $15 million over a period of 20 years starting in 2014 for college
physical plant projects throughout the district. As before, the bond debt will be retired with
the levy revenue generated on properties located in its service district that includes Henry,
Lee, Des Moines, and parts of Louisa, Van Buren, Jefferson and Washington counties.
To keep the cost within the average projected rate of 20 cents per $1,000 of property value
since 1995, the college refinanced the current bonds when interest rates dropped
recently. Now that voters approved the bonded levy for SCC on September 10, the
taxpayer cost is intended to continue at no more than 20 cents per $1,000 of value, with the
College refinancing or revising projects as necessary to maintain that cost.
To calculate the current and continuing cost to area taxpayers, the Des Moines County
Auditor provided the following example: Currently, residential property in this region gets a
52.8166% tax rollback, thus reducing the taxable value of a $100,000 value home to
$52,817. Applying the 20-cent tax to that home after rollbacks results in an annual cost of
$10.57.
SCC projects that have been funded all or in part by previous bonded levy dollars include
new and replacement buildings at the Keokuk and West Burlington campuses, roof
replacements at West Burlington and Fort Madison Center, renovations of the Fort Madison
and Mount Pleasant Centers, complete exterior siding replacement at West Burlington
Campus, and at all sites: sidewalks, parking lots, computer labs, and heating and cooling
system updates. Comprehensive, institution-wide facilities plans currently being developed
with input from representatives of the College’s constituents are expected to include student
spaces, new health and science labs, space for fine arts programming and athletics, and
other critically needed updates and renovations. Voter approval of this bonded levy would
serve as the first critical step in implementing these plans. The College pledges to continue
working with local vendors whenever possible.
The External Levy Committee Chair was Nancy Schulte (Des Moines County), with Co-Chairs:
Carlene Woodside (Des Moines County), Bob Morawitz (Lee County), Lois Roth (Henry
County) and Dale Rickert (Louisa County). Kent Gaudian served as Treasurer.
For more information, contact Levy Coordinator Becky Rump at (319) 208-5065.