Collin College asks voters to approve $600 million bond

MCKINNEY, Texas — Collin College is asking voters to authorize $600 million in general obligation bonds for campus construction and renovations on Nov. 3. The proposal appears as Proposition A on the college ballot. Early voting runs through Oct. 30. The college says the bond would pay for later phases of its Destination 2030 plan, including work at its McKinney, Allen, Frisco, Wylie and Farmersville campuses and Plano Courtyard Center. Plans also include a McKinney aviation academy and new campuses in Anna and Royse City. The projects are proposed; voter approval would authorize financing but would not mean every building opens immediately. Collin College says its credit enrollment grew 31% over the past decade. It points to that growth and demand for workforce programs as reasons for the expansion. The college's Board of Trustees called the election in August. Voters approved a separate $600 million bond in 2017 that paid for earlier facilities, according to the college. The ballot will include the required statement “THIS IS A TAX INCREASE.” The bonds, if approved and issued, would be repaid with property taxes. Collin College says it anticipates keeping its tax rate at $0.08122 per $100 of taxable value, the rate it says has held since 2018. That is a projection, not a cap on future tax bills. Changes in taxable property values can change what an individual owner pays even if the rate stays the same. Bond proceeds would fund capital projects and related equipment, not employee salaries or day-to-day utility bills. The college says it would issue bonds in phases as projects need funding rather than borrow the full amount at once. This college question is separate from McKinney ISD's bond and tax-rate questions and Plano's venue-tax proposal. Voters can review their address-specific sample ballot and the county's polling-location list before voting.