The money raised from the bond would pay for a new school for pre-K through eighth grade, along with a new athletic complex and an addition to Annandale High School.
If approved, property taxes on a $200,000 house would increase by $300 each year.
Annandale Superintendent Steve Niklaus says the district's deadline to put the question to voters was before the worst of the Wall Street crisis hit, which leaves him unsure of how the bond will fare.
"There is no dispute about the need [for the projects] - people are recognizing that," said Niklaus. "It's just the challenge and the times, and we recognize that as well. We don't do polling, so we'll have to wait until Tuesday to see what people's wishes are."
About half of the 70 or so school referenda that were on the ballot in last month's general election passed. But big-ticket bond items, like a nearly $60 million effort in the nearby Hutchinson district, failed. Voters also rejected a nearly $20 million bond in the Lake Park Audobon school district.
Niklaus also says, despite a bad economy, there are benefits. For one, the project could potentially cost less.
"We know that bidding for projects like this would be very competitive, which then would translate to pricing being quite low -- probably lower than what would have been available in the past few years. So, time will tell," he said.
Because this vote is a special election, there will be only one polling place at Annandale Middle School.