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Dow Rummel Village Revenue Bonds

At a glance

  • What: Issuance of City of Sioux Falls Health Facilities Revenue Refunding Bonds (Dow Rummel Village), Series 2026, in an aggregate principal amount not to exceed $55,000,000, with proceeds loaned to Dow Rummel Village, a South Dakota nonprofit corporation.
  • Where it stands: Ordinance 51-26 adopted on second reading July 14, 2026, 7-0.

Details

  • Purposes listed in the ordinance: refunding prior bonds issued by the City in 2016 and 2017; paying capital costs for repair and deferred maintenance of the Dow Rummel Village campus; funding a reserve fund; and paying costs of issuance.
  • The ordinance approves the forms of a bond trust indenture, loan agreement, master indenture, mortgage, bond purchase agreement, escrow agreement, continuing disclosure agreement and tax regulatory agreement.
  • Moved by Brown, seconded by Spellerberg; roll call 7-0 (sponsor: Mayor). The minutes record no discussion.

Sources

Log

2026-07-14 - City Council

Item 22, Ordinance 51-26 adopted 7-0.

2026-07-07 - City Council

Item 36, first reading (up to $55,000,000). Brown moved, Sigette seconded setting second reading for July 14; 7-0.

2026-06-16 - City Council

Item 31, public hearing on the ordinance (sponsor: Mayor). No action was taken. The proceeds are to refund 2016 and 2017 City bonds, pay for repair and deferred maintenance on the Dow Rummel Village campus, fund a reserve and pay issuance costs.