One of the biggest mistakes of the Huether Administration
Only Mike could twist advocating for a new administration building we don’t need, vote against the council wishes 3 times, deny a public vote, add $25 million of debt and act like this is good thing for the citizens;
The interest rate of the bonds is 3.09 percent, which City officials say is an outstanding deal for Sioux Falls taxpayers.
“This incredible borrowing rate is a testament to our city’s financial strength and the insatiable demand for investing in Sioux Falls. The timing of this bond sale couldn’t be much better, and it turned out to be a home run for Sioux Falls taxpayers,†Mayor Mike Huether said.
The only thing positive about this is a good interest rate on a loan we should not have taken out to begin with. I’m not against better office space for city employees, but there are much more prudent ways to do it. But like I have recently said, when you steal your parents credit card, it’s easy to spend, spend, spend.