Decatur Daily Democrat:
Action taken last week by the Adams County Hospital Association by refinancing the lease revenue rental bond used to construct the new hospital back in 2005 will save the hospital several million dollars over the life of the bond issue.
Adams Health Network (AHN) President and Chief Executive Officer Tom Nordwick met with the five-member board and explained the process and history of the bond issue which was originally approved in 2003 for $40 million. He noted that hospital-generated funds and money approved by local and county governmental agencies from the Community Economic Development Income Tax (CEDIT) have been used to date to make semi-annual bond payments.
Nordwick noted that with the dramatic drop in interest rates, hospital officials decided to seek a refinancing procedure to lower payments. He stressed that an Indiana State Board of Accounts report indicated the bond issue "is not a direct liability to the county itself, but is secured by the tax pledge of CEDIT funds and the moral obligation of the state of Indiana."
Action taken last week by the Adams County Hospital Association by refinancing the lease revenue rental bond used to construct the new hospital back in 2005 will save the hospital several million dollars over the life of the bond issue.
Adams Health Network (AHN) President and Chief Executive Officer Tom Nordwick met with the five-member board and explained the process and history of the bond issue which was originally approved in 2003 for $40 million. He noted that hospital-generated funds and money approved by local and county governmental agencies from the Community Economic Development Income Tax (CEDIT) have been used to date to make semi-annual bond payments.
Nordwick noted that with the dramatic drop in interest rates, hospital officials decided to seek a refinancing procedure to lower payments. He stressed that an Indiana State Board of Accounts report indicated the bond issue "is not a direct liability to the county itself, but is secured by the tax pledge of CEDIT funds and the moral obligation of the state of Indiana."
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