Sedalia Council Approves Refinancing for Hospital Bonds

| January 23, 2013 | 1:15 pm
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The Sedalia City Council met in regular session Tuesday evening.  Click to hear KMZU’s Chelsea Wade talk to City Administrator Gary Edwards:

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Council approved a request by Bothwell Regional Health Center during this week’s session.  Edwards said the action will allow them to refinance their 2004 revenue bonds.  “Whenever there is an opportunity to get a lower interest rate on the money that’s being paid on that particular bond issue, you always try to take advantage of that,” said Edwards,”  The council approved the refinancing and it will save the hospital a little over $300,000.”

The new interest rate will be set at 3.75%.  The hospital is scheduled to pay off the bonds in fiscal year 2016.

A rezoning application was also approved and will allow construction to begin on a new area business.  “That’s for an Advanced Auto Parts store that will be going very close to the intersection of Highways 50 and 65,” said Edwards,” It was approved by planning and zoning and has now received the nod from council as well.”

An exact timeline for the opening of the store has not yet been released.

In other business, the group amended the city’s safety manual by adding a policy entitled “Lifting Devices and Excavators”.  According to Edwards, this will allow a safer approach when dealing with high line wires and equipment of that nature.

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