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March29

Program promotes C/O bond rating increases, better interest rates for schools

During the 2015 legislative session, the South Dakota Legislature adopted Senate Bill 191 authorizing an expanded State Aid Pledge Program through the South Dakota Health and Educational Facilities Authority.

 

Lt. Gov. Matt Michels said the program is “beneficial to our schools” because it would designate the South Dakota Health and Educational Facilities Authority Intercept Program as the debtor for capital outlay bonds or certificates issued for schools in order to increase the rating and receive better interest rates for the bonds and certificates.

 

The program is optional for school districts to use and allows school districts to pledge Title 13 State Aid payments as additional security for capital outlay certificate issues.

 

For more information and to apply download the Program Description and Application document here and review the SDHEFA presentation on the program here or download both from the ASBSD website’s Publications & Forms page under the Financial Services header.

 

ASBSD supported the bill and the program.

 

“It could be a lucrative venture for schools to consider if they want a better bond rating,” ASBSD Executive Director Wade Pogany said.

 

For more information on the program, contact SDHEFA Executive Director Don Templeton at don.templeton@sdhefa.com or at 605-224-9200 or Associate Director Dustin Christopherson at dustin.christopherson@sdhefa.com or at 605-224-9200.

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