South DaCola

Will brokerage firms issue bonds for the Events Center w/o an appeals process?

I’m posting this just out of curiosity, I don’t know the answer, nor do I think I am anywhere near being an expert on city code, but someone pointed this out to me today in reference to the Dan Daily case and the SD Supreme Court ruling;

• Code 2-66 prevents appeals, Defendant or City.

• The city can request compliance but have no way to enforce it.

• The city must allow appeals before they can broker events center bonds.

• Brokerages likely will not sponsor bonds unless they have legal recourse in case of default.

Like I said, don’t know if this is true. But it will be interesting to see the negotiations when those bonds become available.

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