County Commission To Loan Money To Hospital Board

Johnson County Healthcare Center
Johnson County Healthcare Center

Johnson County's Commissioners have approved a plan to loan $3 million to the Johnson County Healthcare Center to help fund their expansion project which will replace the aging Amie Holt Care Center.

According to Hospital Administrator Sandy Ward, who discussed the plan at the last Hospital Board meeting earlier this month, County Commissioner Jim Hicks had approached him asking if the board would be interested in borrowing money from the county, which would benefit both parties.

The plan, according to Ward, is to borrow $3 million from the county at 2.5% interest, which is a lower interest rate than the hospital can get from bank loans, and would give the county a better return interest-wise than they could get from just letting the money sit in a bank account.

Ward told the hospital board that if the commissioners approved the plan, the board would take possession of the funds in August or September of 2015 and set up recurring payments every six months beginning in June of 2016 to repay the loan.

The hospital board approved Ward moving forward and sending a letter of interest to the commissioners.

The county commissioners then discussed the issue at their last meeting January 20th and approved the plan, voting to send a letter back to the Johnson County Healthcare Center's Board of Trustees informing them they would cooperate with them on securing the loan.

Send us a News Tip!

Have a news tip?
Use our anonymous form to let us know.