Bond Sales for New Hospital Complete
4th and Final Issue Sold
On May 13, 2008 Valley County voters gave their approval to a $21.265 million dollar general obligation bond issue, proceeds to be applied toward the construction of a new hospital. Valley County Health System announced that on Thursday, June 25, 2009, the fourth and final issuance realized $6.035 million dollars in bond sales. The sales rate for this issue was 4.89%, which is favorable to original estimates.
Marc Munford, Assistant Vice President with Ameritas Investment Corporation, appeared before the Valley County Board of Supervisors on June 9 to announce the presale of the additional $6.035 million in bonds. The combined sales volume, with the $7.22 million sold in August, the $2.68 million sold in October and the $5.33 million in January now totals the full $21,265,000 approved by voters in 2008. This issue was sold once again to Nebraska area banks and investors. The aggregate sales rate for all bonds sold is 4.97%, which is still positive to original estimates.
The sequential sale of the four issues over a one year period of time will save the hospital more than $400,000 in interest and financing costs during the period of construction, compared to the original estimates.
The project is still on schedule for completion in September 2010. For more information contact the Public Relations office at 308-728-4347.
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