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
Holton woman charged in elder abuse case
Horton search warrant leads to arrest
Atchison woman convicted for child's death
Highland man arrested on drug charges
Hiawatha man arrested after shots-fired incident
KDOT begins work on local area highways
KS native returning for area non-profit support concert
Falls City Police investigating shooting
Horton woman arrested on multiple drug charges
KS completes first long-range medical drone delivery
No injuries reported after hay baler hits Falls City School Bus
Two arrested in death of Leavenworth boy
UTV stolen, damage committed, at Atchison High School
Former prioress dies; services set for Saturday
Revenue neutral budget proposed for city of Horton
LFM Park makeover proceeds; October wrap-up expected
Two dead following Falls City shooting
LATEST STORIES
Cobblestone Festival opens in Falls City
Missouri Route 59 reopens near Craig
Falls City Council approves agreement for SACADA system
Water restrictions lifted for Auburn BPW customers
Two dead following Falls City shooting
Missing Atchison car sparks investigation
Atchison City, County, working to clarify budget
Proposed USD 115 budget contains mill levy increase
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