Latest News from October 2008

Bond Sales for New Hospital Going According to Plan

On May 13th Valley County voters gave their approval to a $21.3 million dollar general obligation bond issue, proceeds to be applied toward the construction of a new hospital. Valley County Health System announced that on Friday, October 10, the second of several issuances realized $2.68 million dollars in bond sales.

Marc Munford, Assistant Vice President with Ameritas Investment Corporation, appeared before the Valley County Board of Supervisors on October 14 to announce the presale of the additional $2.68 million in bonds. The combined sales volume, with the first $7,220,000 sold in August, now totals $9,900,000. This issue was sold once again to Nebraska area banks and investors.

Conditions of the bond sale to build the new replacement hospital require that only a maximum of $10 million dollars can be sold each calendar year in order to stay bank qualified. The balance of the bonds will be marketed in the first six months of 2009.

A large crowd of approximately 250 was in attendance as Valley County Health System broke ground on a new 67,000 square foot replacement hospital facility on Tuesday, October 7. The celebration took place at the new building site near 27th and M Streets in Ord.

Remarks were made by VCHS Board Chair Kara Fischer, Valley County Supervisor
Chairman Bob Sevenker, Honored Guest Governor Heineman and VCHS CEO Larry
Schrage. Following the remarks and groundbreaking ceremony, Valley County Health System hosted business after hours, which included a virtual tour of the new building and hors devours.

Dirt work will begin this week and should be completed by November 1st. Construction of the new facility will begin in March 2009.