OCHR Discusses $5 Mil. Bond

After the Overton County Health and Rehab Board of Directors decided to put capital improvements off for another year, the facility is still stuck with making interest payments on the $5 million bond without breaking any ground on the additions to the facility. The board met on Thursday to discuss the reported bond payment impact.

According to a report that shows a schedule of revenues, expenses and changes in retained earnings and debt coverage, the $5 million bond that was taken out to provide additional private rooms at the facility had a projected amount of $150,000 for maximum principal and interest in the year 2018, with total debt service payments to come to the amount of $405,906 that would include principal and interest on the new construction project, current interest payments on the Cottage building in the amount of $85,906 and current principal payments on the Cottage in the amount of $170,000.

For more on this story, pick up a copy of this week’s Livingston Enterprise on newsstands now, or subscribe online at livingstonenterprise.net.

Leave a Comment