The Kern Community College District has three years to spend about $32 million — the majority of a $40 million bond it sold last month as part of the $503 million Measure J voters approved in November. If it doesn’t, the district will incur IRS penalties.
While spending $32 million may not seem like a difficult matter, especially given KCCD’s expansive list of facilities that need improvements and retrofitting, it could be more challenging this year. The challenges were laid bare during a KCCD board meeting this month when Trustee Bill Thomas questioned why the district would sell new bonds when it hasn’t spent the remainder of funds from Measure G, which was approved in 2002.
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