News Headlines Article

Hospital board OKs bond refinance
The Reedley Exponent

The Sierra Kings Health Care District opted for a plan to re-fund general obligation bonds it issued in 2002, 2007 and 2009.

The action, taken at the district’s Board of Directors meeting on Aug. 25 in Reedley, would amount to an overall cost savings of nearly $2.3 million, based on net present interest value.

The bond refinancing will reduce the district’s average interest rate from 5.57 percent to 4.15 percent. The net cost savings would be $2.287,000, or 9.13 percent of the bonds being re-funded.