Trustees of the Los Rios Community College District this week authorized the sale of $80 million in general obligation bonds to raise funds for a variety of projects - including $16 million for a gymnasium at Folsom Lake College.
Jon Sharpe, Los Rios deputy chancellor, said about $20 million in bonds would be issued under the district's Measure A, which voters approved in 2002.
In addition to funding the gymnasium, the proceeds would help fund a portion of two other projects: American River College's Life Science and Fine Arts project as well as $2.6 million for site improvements for Folsom Lake College's planned Rancho Cordova Center.
The other $60 million, part of the district's voter-approved Measure M of 2008, will fund a variety of projects in the district.
Among them: Remodel and expansion of ARC's culinary arts facilities for $9.5 million and a $8.5 million remodel of a planned Economic Development Program facility on Tribute Road near Cal Expo.
The program provides training for students and for employees and prospective employees of area businesses and industries.
The Measure M proceeds also will provide $6.1 million to remodel Lusk and Rodda halls at Sacramento City College, Sharpe said.
The general obligation bonds - repaid through property taxes - are to be retired over a 25-year period. They are scheduled to go to market June 11.