Witham Health Services wants Boone County officials to support a $35 million bond issue that the Lebanon-based hospital
said could save it millions in interest payments, according to the Lebanon Reporter.
Witham wants to use about $21 million to refinance a 95,000-square-foot medical office building in Lebanon that it opened in September. Interest rates on bonds are lower now than when Witham began that project in mid-2007.
Witham would use the rest of the money, about $15 million, to purchase land in the Anson development near Zionsville, on which Witham opened a free-standing emergency room in October.
The 43,000-square-foot structure features cutting-edge imaging equipment for open-sided magnetic-resonance imaging exams and high-resolution CT scans. It also includes office space for family and specialist physicians.
The final amount of the bond issue will depend on the interest rate when the 20-year bonds are sold, according to the newspaper.