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
Doniphan Co search warrant leads to 3 arrests
Hiawatha man sentenced to prison on drug charges
Horton truck driver seriously injured in Monday wreck
Sex crimes charges hold Atchison teen
From cash to sunglasses, Atchison thefts investigated
Baccalaureate speaker named for ACCHS
Attempted bike escape earns prison stay
Falls City Officials respond to criticism
Sabetha begins search for new city administrator
Richardson Co Commissioner urges settlement with Road Dept employees
Former 1st District Legislative candidate wins defamation case
Third day Superintendent candidate named by USD 409
Superintendent candidates to meet the Atchison public; starts today
USD 415 to begin alternative education program
Expansion of Atchison skatepark planned
Atchison's USD 409 names new Superintendent
New Marysville Police Chief appointed
Olathe woman arrested in Jackson Co on drug charges
LATEST STORIES
NioCorp to begin 12-week drilling program
SE Nebraska March unemployment update
Falls City Council hears updated on electric department
Multi-Activity students recognized by NSAA
Atchison's USD 409 names new Superintendent
Olathe woman arrested in Jackson Co on drug charges
Two new members appointed to Brown Co Planning Commission
Scholarships for Peru State History Day Contest winners
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