SIERRA VISTA - As in all good dramas, everything was resolved in the third act.

Cochise College's governing board held a public hearing Tuesday night, and when the agenda reached "new business" item No. 3 - a resolution ordering and calling a special bond election - its unanimous approval was met with a round of applause that was probably heard throughout the college's Sierra Vista library.

In November, voters will be asked to agree that the community college district may issue $87.7 million of general obligation bonds to fund its Master Facilities Plan - a phased build-out involving new construction, renovation and expansion of the college's four campuses.

After college President Karen Nicodemus assured the board the plan had been developed with due diligence over multiple years of discussion, and would put the college in a strategic position for the educational future of Cochise County, she deferred to Terry Bowmaster, master facilities planner and interim vice president of administration.

"The question before you tonight," said Bowmaster, "is whether to declare an election for $87.7 million on November 7. Perhaps no one except the people with vision who founded this school over 40 years ago had more courage. This may have the biggest impact of any decision you'll be asked to make. The planning portion is over. We stand ready to implement."

Under Arizona law, general obligation bonds are the only mechanism for a community college to undertake a master facilities plan of this magnitude. Homeowners would find their annual primary property tax increased by approximately 57 cents per hundred dollars of assessed valuation - or $57 per year on a home assessed at $100,000.

The term of the bonds would not exceed 25 years, and would bear interest at a rate not to exceed 12 percent.

Earlier in the public hearing, the board reviewed and presented the proposed budget for the 2006-2007 fiscal year. In 2005-2006, the college spent approximately $37 million, with an expenditure limitation of slightly more than $40 million. For the coming year, those figures rise to $41.1 million and $45.3 million, respectively.

The college is projecting an 8.3 percent increase in state aid, as well as additional revenue from growing property values in the district - although the current rate of taxation remains the same. In addition, the college is raising tuition and fees for in-state residents, but will remain the third least expensive community college in the state.

The college hopes to add programs and staff to serve its growing student population, both in the classroom and with student services, as well as provide raises to eligible full-time employees.

After some discussion, the board adopted the budget for 2006-2007 as presented.

In other action, the board approved:

€ Jennifer Lakosil as director of nursing and allied health

€ Robert Carreira as director of institutional research with duties that will continue at the Center for Economic Research

€ Continuation of educational services to the Arizona Department of Corrections

€ Continuation of educational services through an intergovernmental agreement with Santa Cruz County

€ Renewal of an intergovernmental agreement with Willcox Unified Schools for the CISCO Academy

€ Amending the management agreement with Wackenhut security.

The board entered into executive session to discuss the employment of the college president, an annual provision of the multi-year contract.