Polk County Seeks Public Comments Regarding Bond Authorization for Des Moines Airport Authority

Des Moines, IA- The Polk County Board of Supervisors are seeking public comments on a proposed ballot referendum which, if approved, would help fund the construction of the new Des Moines International Airport terminal project. The Des Moines Airport Authority (FlyDSM) is asking the Board of Supervisors to issue a referendum on the November 7^th General Election ballot that, if passed by voters, would authorize Polk County to sell bonds up to $350 million. The sale of the bonds would give Polk County the authorization to loan the proceeds to the Airport Authority for the new terminal project. Revenue from airport operations will repay all principal and interest on the bonds.

Issuing the sale of bonds would allow the Des Moines Airport Authority to achieve the lowest cost of capital for the project. Leveraging Polk County's bond rating would result in potential savings of up to $70 million over the life of the loan, ensuring the airport remains operationally competitive with existing and prospective airlines. The Des Moines Airport Authority says the new terminal would expand passenger boarding by 50%, replace the existing facility with a new terminal while modifying ticketing, security and baggage operations. The proposed new terminal is scheduled to be complete in 2026.

Polk County is welcoming public comments at the next regularly scheduled board meeting on Tuesday, September 5^th at 9:30AM at the Polk County Administration Building (111 Court Ave. Des Moines). Board members will take into account public comments before voting at the September 19 Board of Supervisors meeting if the question of authorizing the sale of bonds should be on the ballot for voters in November. If voters approve the measure and the board authorizes the sale of bonds, revenues from the airport operations will fund the repayment of the bonds.