The Austin Community College District has completed the latest land acquisition financed with proceeds from a 2009 bond sale that provided some $30 million to buy property for future campuses.
The district said it used a mixture of bond proceeds and cash for the land purchases.
The latest acquisition was 96 acres in Kyle, south of Austin. Since May, ACC has spent more than $35 million to buy the Kyle property and land in Austin, Bastrop, Elgin, and Leander.
District president and chief executive officer Stephen Kinslow said the land purchases are a good investment in fast-growing central Texas.
Enrollment in fall 2009 totaled 37,850 students.
The college district spans seven counties and part of an eighth, and could grow even larger this fall.
Voters in the Bastrop, Elgin, McDade, San Marcos, and Hays school districts may vote in November whether to join the district.
District officials said up to $60 million of revenue bonds could be issued in 2011 or 2012 to finance new campus facilities in the expanded service area.
ACC has $119 million of outstanding lease revenue bonds, $96 million in general obligation bonds, and $77 million in revenue debt.
The district’s GO bonds are rated AA-plus by Standard & Poor’s and Fitch Ratings, and Aa2 by Moody’s Investors Service.
