The $17 million in bond monies used to begin construction of a new Allen County Hospital has been pulled from beneath the proverbial mattress.
Hospital trustees agreed in a special meeting Thursday to invest idle bond funds to accumulate at least some additional revenues.
The trustees voted 5-0 in a special meeting to a request from United Missouri Bank, which handled the bond sale, to use the monies for short-term investments.
The investments will be scheduled to ensure enough funds will available as needed, Trustee Jay Kretzmeier said.
The measure could bring in about $17,000, an admittedly paltry sum compared to $17 million, Kretzmeier said, “but every penny counts.”
Trustees Kretzmeier, Harry Lee Jr., Karen Gilpin, Patti Boyd and Debbie Roe voted for the plan. Trustees Tom Miller and Sean McReynolds were unable to attend the abbreviated meeting.
