Supervisors Approve Bond Issuance For $9.985 Million For Hospital Renovation
The Kearney County Board of Supervisors had a full agenda of business to attend to at its May 17th meeting in the courthouse.
Topping the agenda was Paul Geiger and Cody Wickham with D.A. Davidson to discuss the issuance of the bonds for Kearney County Health Services renovation.
“We want to congratulate you on the passing of the hospital bond,” Geiger said. “We are really pleased with the rate of return we are seeing on the bonds. The markets dipped and the interest rate will average 3.87 percent over the life of the 20 year bond. The interest cost of the bonds will be between 4 1/2 and 4 3/4 percent. That means it will not raise the levy above 8.5 cents for the life of the bonds.”
There will be two payments made each year totalling $750,000 one will be interest due in December and principal interest due in June.