(Estherville)– The board of trustees of Iowa Lakes Community College Tuesday adopted a budget for the upcoming fiscal year totalling 32.2 million dollars. Officials say it reflects a 10 percent increase in property valuations within the area covered by the college. The increase will generate additional funds for the General and Plant Fund as well as the equipment replacement funds. The budget also reflects an increase in tax askings due in part to the college’s Early Retirement Fund. A news release issued by the college doesn’t say how much the new levy will be or how it compares with the current one. Trustees adopted the budget following a public hearing.
Trustees also held a public hearing on the Spencer dormitories project and voted to accept the low bid of 748,700-dollars from Dan Cooper Builders of Emmetsburg. Plans call for the two four-plex dorms to be completed in August of this coming year.
Trustees also set March 21st as the date for a public hearing and to award a bid on the construction of four-plex dorms at the Estherville campus; and they held a public hearing on the issuance of dormitory revenue funds not to exceed 1.75 million dollars to fund the projects in Spencer and Estherville.
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