Sioux Falls School District To Decide On Bonding Financial Advisor

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On Monday night the Sioux Falls School District hopes to be one step closer to a new high school, middle school, and elementary school: a plan with a $190 million price tag. Monday night, the school board will make a key decision.

Superintendent Brian Maher expects the Sioux Falls School Board to okay the budget for the next fiscal year. As soon as that is done, they’ll look ahead to the future of the district and your taxes. 

This fall, the Sioux Falls School District wants voters to decide whether to fund a new high school, middle school, and elementary school. If a bond passes, the district needs to hire someone to oversee the funding. On Monday night the board plans to select Dougherty & Company, LLC.

“They’re a local bonding agent, and they’ve worked with the district for years and years, and they’ve worked for South Dakota school districts for years and years as well,” Maher said.

“They’ll take care of all of the bonding, securing the bonds, selling the bonds, for the project,” Maher said. “They’ll help us navigate the financial world as it relates to bonding.”

The next step in the process comes later this month. 

“The next board meeting, July 23rd, our board would call for the election and actually go through the language of calling for an election. And then they wait until the results of a September 18th bond election,” Maher said.

If it passes, the $190 million bond would pay for a handful of new schools and updates to several existing buildings. Most homeowners in the district would pay about $2 more per month. 

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