According to a legal notice posted by the County Board of Commissioners, the Lancaster County Hospital Authority will hold a public hearing on January 3, 2011 pertaining to Lancaster General Health “borrowing $75 million for the construction of alterations, additions and improvements to Laboratory Facilities and the Angiography Suite of the Hospital and the refunding of the outstanding Hospital Revenue Bonds Series of 1998.”
The Authority was established for the sole purpose of qualifying non-profit organizations such as LGH to sell bonds whose interest payments are not subject to taxes for their holders. With interests rates at the lowest level for half a century, refinancing debt where permitted without major penalties is highly desirable.
The meeting will take place January 3, 2011, at 4:00 p.m. at the offices of McNees, Wallace & Nurick
LLC, 570 Lausch Lane, Suite 200, Lancaster, Pennsylvania 17601. Although open to the public, its scope is strictly technical since the Authority has no oversight responsibility concerning operations but acts simply as a conduit.
