Hospital bond refinancing approved to save over $319K

Hospital to be paid off in 2042, jail in 2024

BY CYNTHIA SCHEER

Commissioners received word last week that the county has saved more than $319,500 by re-financing the now-$6.3 million hospital bond and capturing a lower interest rate. The original $7.98 million bond was done in spring 2013 and included the remaining debt from the 2008 building of the law enforcement center.

The bond sale was completed Sept. 28, and the interest rate was reduced from 4.89 percent to 3.46 percent. The refinanced hospital bond is scheduled to be paid off in 2042.

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