This page contains a single entry from the blog posted on April 20, 2009 4:09 PM. The previous post in this blog was Another day, another pathological lie. The next post in this blog is In her Fave Five. Many more can be found on the main index page or by looking through the archives.

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Monday, April 20, 2009

Here we go again with the CCCC

The State of Oregon is borrowing more tens of millions of dollars this week. This time it's $55.7 million for community colleges around the state. Thus, the state is once again pulling out its CCCC -- community college credit card -- and putting its taxpayers on the hook for new construction.

The preliminary sales document for the bonds is here. Here are the projects that are supposed to get the money:

That last line is a little surprising. Portland Community College recently floated its own bonds -- a massive $200 million borrowing for new facilities. Apparently that isn't enough -- it needs a state grant as well.

Back when PCC was campaigning for its ballot measure authorizing a total of $374 million of new borrowing, we suggested that in these difficult times PCC ought to be concentrating more on distance learning than on bricks-and-mortar facilities. That argument went nowhere with the voters, and so onward with the borrowing and the building we go. Celebratory drinks all around tonight for the construction company bigwigs at the Arlington Club -- the boys from Howard S. Wright, Hoffman, Walsh and Skanska USA. Clink!

Comments (1)

PCC should bank some money for the inevitable Derrick Foxworth-related lawsuits now that he's on the payroll.

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