Pipestone County approves Peoples Bank refinance for PCMC bonds
Pipestone County commissioners voted Aug. 10 to accept Peoples Bank’s offer to refinance roughly $6 million in Pipestone County Medical Center bonds with a 22-year loan and a 12-year fixed rate, following presentation by PCMC and finance representatives.
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The Pipestone County Board of Commissioners on Aug. 10 voted to accept Peoples Bank of Rock Valley, Iowa, to refinance about $6 million in bonds taken out by the Pipestone County Medical Center in 2014. Pipestone County Medical Center CEO Brad Burris and National Healthcare Capital representatives Tom Mayfield and Tucker Plumstead presented two proposals before the board selected Peoples Bank’s 22‑year loan with a 12‑year fixed-rate period.
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