Stephens Co. Hospital Board Approves Bond Resolution

The Stephens County Hospital Board approved a supplemental resolution to their $15 million bond last night during their called meeting.

According to Hospital Administrator Lynne Anderson, the original documents appointed Northeast Georgia Bank as the depository, but the Bank couldn’t accept due to security funding requirements.

Last night, the board approved United Community Bank instead.

Moving forward, there will be a bond validation hearing today at 1:30 and the estimated closing date for the bond is June 7.

Anderson told WNEG what the project fund from the bond will be used for.

“Information technology, some capital equipment that we need, some imaging equipment, some security equipment,” said Anderson. “It will also be used for some renovations in medical office space and some of the building renovations that we need to do like new roofing, air handlers, things like that. So that’s a list of capital equipment items that the bond proceeds will be used for.”

Once the bond goes through, all payoffs that the board has planned for will immediately go through and then the project fund can be used for those technology improvements.