The Storm Lake School Board on Wednesday approved approximately 7.5-million dollars in sales tax bonds for the 2nd phase of the Early Elementary School project.
Business Manager Trudy Pedersen said this will assure that the district has all of the financing in place for the next phase before General Obligation bonds are issued, and before bids are taken on the project…(audio clip below)
The sales tax bonds will not result in a tax increase, as they will be paid with the district’s one-cent sales tax revenues.
The Early Elementary School on the west side of town opened in January of last year. The 2nd phase will consist of a 1st grade wing, which is expected to be ready for classes at the start of the 2024-2025 school year.
Since voters approved a bond vote for the 2nd phase this past September, the district will also be able to move ahead with the 3rd phase of the Early Elementary project, which will add a pre-k wing to the building. A bond vote isn’t needed for the 3rd phase, and construction on that portion will begin right after the 2nd phase is finished.
