TACI endorses $350M Polk Co bond referendum for Des Moines airport
It is necessary to keep DSM International viable and competitive
Overview:
Polk County residents will be asked on November 7 to authorize Polk County to issue up to $350 million in General Obligation bonds, proceeds from which are to be loaned to the Des Moines International Airport Authority for the long-planned terminal facility.
Without reservation, the Taxpayers Association of Central Iowa endorses the referendum.
- The current facility has outlived its useful life, physically and operationally. The current plan addresses those issues and provides a much-needed increase in capacity.
- Partial financing of the project through a loan from Polk County to the Airport Authority makes eminent sense, a projected savings to the project of $76 million over 30 years.
- Current and projected airport revenue will be sufficient to pay principal and interest costs without any taxpayer participation.
The material supporting the endorsement and the Town Hall that provided a project up follows:
Guest Panelist:
Brian Mulcahy
Assistant Executive Director, DSM International Airport