Well, he didn’t technically lie about the matter at hand, but yah gotta scratch your head a bit. Last week while the city council was approving bonding for the airport, Shawn Pritchett, the City of Sioux Falls Finance Director was asked a simple question. For reference, the Airport Authority is an appointed board and NOT elected, so they cannot approve bonds, they must have the next governing body approve the bonds, which is the city council. The bonds, with interest, will be paid in full by the airport authority thru parking and other revenues, the taxpayers are NOT on the hook for the $30 million in bonds, unless you park at the airport 🙂 So what was the question? I think Councilor Lucy Bayse asked the question, “So by approving these bonds, are citizens on the hook for the bonds or have any other financial obligation?” I’m paraphrasing, but it was pretty basic and to the point. Shawn replies, “NO.” Then goes into a detailed explanation as to why, as I explained above. So was he lying? Not at all, in fact, I see it identical to how he sees it. But, being the finance director you have to know what is coming down the pipeline? Right? Especially in a week!? So while we have NO financial obligation to the bond last week, this week, they decided to give the airport a $5 million dollar ‘LOAN’. (Item #33) Yeah, it has to be paid back, blah, blah, blah, but didn’t you just tell us last week that we had NO FINANCIAL OBLIGATION to this project (not just the bonds) then you roll out a loan? So which is it Shawn? Oh, and don’t think I don’t support the loan, I actually told a councilor that instead of the dumb bond and loan, the city should have bonded this project (50%) instead of those stupid rec centers. Expanding our airport will have more economic impact on us then a floating turd pond.
Did the City of Sioux Falls finance director tell a little white lie about airport bonding?
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l3wis
By l3wis
2 thoughts on “Did the City of Sioux Falls finance director tell a little white lie about airport bonding?”
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“Hey Paulie, there’s $5 M which you didn’t need to collect in the form of property taxes.”
Thomason: “the Sioux Falls Airport is critical to Rapid City …” whaaaaat?
Progressive Paulie lets Kolbeck drone on and on. When this is apparently noted by someone in the audience, Progressive Paulie puts on his bully hat, “ma’ am, I’m chair of this meeting if you don’t like that, you may leave.”
Spellerberg let it slip that this will be a 0% loan (although “terms are still to worked out contingent that the ordinance passes … and the State throws in at least $5 million).
Whole lot of 1950s Eisenhower/Rockefeller republicanism refected in the economic and government fiscal policies cited at this meeting.