Potential savings discussed at Pratt County Commission meeting
The Pratt County Commission met August 16 to discuss a number of issues impacting county residents and workplaces. The primary focus of the meeting was to discuss the signing of bond refinance documents for Pratt Regional Medical Center (PRMC) to take advantage of lower interest rates and use additional collected funds to pay down the principal and remove the rehab center building from the bond documents.
The rehab building never received funds from the bonds, and by having it unencumbered by the bond, it will allow the county to potentially sell or lease the building. The additional collected funds were a result of more money being received from the people spending money locally, and the extra tax is for the bond.
Money has been collected at a quicker pace than projected, and the interest rate is now at 1.36%. All of these factors now work together to allow the bond to be paid off in 2029 instead of 2032, and the county will realize a savings of 13.4%.
Pratt County Commissioner, Dwight Adams, raised a question asking if the empty lot to the north of Pratt Rehabilitation and Residence Center (PRRC) is free of the bond-- due to the need to find a suitable place for additional daycare in the community-- and county counselor, Tyson Eisenhauer, said that the lot north of PRRC and the Emergency Medical Services (EMS) building are both separated from the bond.
In wrapping up the meeting, Adams reported that the current lawn maintenance company is not interested in installing a sprinkler system, so Adams said he will ask other companies for a quote as no one has provided him with an estimate at this time.