LARNED — The first round of revenue bonds to build the new Pawnee Valley Community Hospital have been sold through an offering through the Pawnee County Building Commission.
The $9.6 million of hospital revenue bonds were sold by Dec. 7.
The bonds are rated as A3 by Moody’s Investors Service with a maturation date from 2012 to 2036. They were offered to the public the week of Nov. 28 by underwriters Country Club Bank and Oppenheimer & Co., Inc.
The Pawnee County commissioners authorized the bonds to be sold in a resolution passed at the Pawnee County commission meeting Nov. 14. Bond proceeds are used to finance the cost of acquiring, equipping and constructing the Pawnee Valley Community Hospital.
The 52,000 square foot hospital facility on the existing hospital site will replace the existing three-story building constructed in 1950. The new facility will feature 16 patient rooms, emergency department, radiology and surgery.
The bank-certified bonds for the $19.6 million PVCH project were marketed at a net interest rate of 4.23 percent.
A second series issue for $10 million is scheduled for 2012, with an expected issue date in January or February.
For information, contact Country Club Bank at 1-800-288-5489, or Oppenheimer & Co. at 1-800-800-9179.