NORTH PLATTE, Nebraska -- While bonds will officially sell on Nov. 1, local residents interested in purchasing series 2012 tax-exempt Great Plains Regional Medical Center bonds are encouraged to act prior to Oct. 31.
The bonds will in-part be used to help fund the Great Plains Regional Medical Center $100 million patient tower construction project. Among other features, the project includes a 116-bed, five-story patient tower featuring modernized patient units, all private rooms, more space for updated technology and visiting family members, increased parking and the expansion of the central utility plant.
"The amount of planning, research, fiscal projection, evaluation, financial review and data collection that has brought us to this day is an incredible accomplishment," said Greg Nielsen, Great Plains Regional Medical Center president and CEO. "I really don't think any of us can truly appreciate the impact that the patient tower project will have on health care in the region over the next few decades."
Great Plains Regional Medical Center has selected Piper Jaffray, an investment banking firm based in Minneapolis, Minn., to serve as the bond underwriter.
The bonds will be sold in minimum denominations of $5,000. Individuals interested in purchasing the bonds should contact their broker or financial advisor or call Piper Jaffray at 888.527.5339 no later than October 31. More information about the bonds and the preliminary official statement is available at gprmc.com/bonds.
"Final interest rates on the various maturities of the Great Plains Regional Medical Center bond issue will be determined on Nov. 1, the day of the official pricing, based on market conditions at the time, " said Krystal Claymore, Great Plains Regional Medical Center chief financial officer. Claymore indicates there is no direct or indirect liability to the city or county.
Motorists traveling around the intersection of Leota St. and Willow St. can already see evidence of the project's start. Work on the area where the information technology department will be housed has begun and a north east parking lot has been poured.
A formal dedication ceremony will be held when the steel for the patient tower is erected sometime in the Spring of 2013.
"In the coming months, more information will be provided about the many ways the community can participate in what is believed to be the most exciting transformation in local health care," said Nielsen.
The anticipated project completion date is Spring 2015.