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Southeast Polk hears plan for $51 million bond referendum, aims for November 2025 ballot
Summary
Consultant Suzanne Gerlach of Public Financial Management presented a financing plan that would ask voters for roughly $51 million in general obligation bonds in November 2025, with an estimated debt service levy change from $2.14 to $2.55 and options to use district SAVE and PEPL funds to manage the overall tax rate.
The Southeast Polk Community School District board heard a finance presentation from Public Financial Management that laid out a scenario for roughly $51 million in general obligation (GO) bonds to appear on the November 2025 ballot and a proposed issuance in May 2026. Suzanne Gerlach of PFM told the board the $51 million figure is a working estimate designed to produce about $50 million of project funding after issuance costs and contingencies.
PFM outlined a timeline and financing assumptions the board would need to meet the November ballot deadline: identify projects and finalize a petition by mid‑May 2025, circulate petition signatures over the summer (25% of the last board election voters required for signatures, per the presented…
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