Printer Friendly
Email to a Friend
(KLZA)-- The Falls City Council has cleared the way for Community Medical Center to reduce the amount of interest to be paid on bonds.
On Monday evening, city bond counsel Mike Rogers, an attorney with Gilmore and Bell in Omaha, explained the process to Council members. Tax rules allow an entity such as the hospital to borrow on a tax-exempt basis, only if a governmental entity is involved and serves as the issuer of the bonds.
State statutes make it clear, the transaction will not be a liability of the City.
In 2015 the City issued $6,055,000 in Revenue Refunding Bonds for CMC. The new amount will be less than $5.7-million.
The City would still have the ability to issue more than $4.3-million in bank qualified tax-exempt bonds on other projects if needed. Rogers said this would greatly benefit the hospital in lowering their interest rate and lowering the principal payments.
© Many Signals Communications
MOST VIEWED STORIES
Atchison boxstore rape holds LV man
Horton restaurant seized for taxes
Strong winds bring fires, air quality concerns
3 arrested after search warrant on Kickapoo Reservation
Seneca couple make large donation to NVCH
Four arrested after Holton traffic stop
Semi, car, collide in Atchison; drivers escape unhurt
New Doniphan West Superintendent hired
USD 415 board approves new hires, resignations
Update: Cyber attack leaves Atchison Co offices closed Tuesday
Commission denies tax abatement for hotel improvement project
Cyber attack leaves Atchison Co offices closed for day 3
Iced-road patient rescue earns honors for Atchison Officer
Mental evaluation ordered for man charged in Jeff Co sex crimes case
New NCEMS principal, assistant principal hired
Ground breaking Thursday for new NEKAAA multi-use facility
Hiawatha Community Foundation hires Executive Director
Funding awarded for expansion of Kickapoo Health Center
LATEST STORIES
January knife attack leads to March arrest
Neb man injured in Jefferson Co crash
Measles cases on rise in Kansas
New ClearSky Rehab Hospital CEO named
Commencement speaker announced by Atchison's BC
Hoyt couple injured in Shawnee Co crash
Hiawatha Community Foundation hires Executive Director
RELATED STORIES
CMC in Falls City to stop delivering babies
Community Health Assessment results released
Falls City Hospital financially solid
CMC Expansion and Remodeling Project Update
Fundraising Effort Underway For Falls City Hospital Project
$8-Million Expansion of Falls City Hospital Announced
Falls City Hospital Refinancing $16-Million in Bonds
Hiawatha, Ks 66434