The Crawford County Commission approved a bond-resolution package at its Aug. 5 meeting authorizing the Public Building Commission and Girard Hospital District No. 1 to proceed with refinancing an outstanding 2016 bond issue.

Commissioner Jim presented the resolution, which the county attorney and bond counsel (Gilmore & Bell) helped draft through a four-month process involving the Public Building Commission and the hospital district. Jim said the transaction covers a bond with a face amount noted in the resolution materials as $2,980,000 and that the refinancing would be designated as the Series 2025 bonds; the item discussed now pertains to a $1,990,000 bond being refunded this year, with another outstanding bond possibly advantageous to refund in 2027 depending on market conditions.

"The hospital district went through their audit. Their finances still in good shape with good reserves," Jim said, adding the refunding is expected to yield savings to the hospital district. The resolution authorizes lease-to-purchase arrangements among the county, the Public Building Commission and the hospital district and a sublease that facilitates the financing structure.

Commissioners made a motion and seconded to approve Resolution 2025-024; signatory pages were exchanged and the vice chair was listed as an additional signer. According to meeting remarks, the Public Building Commission met the same day to finalize the transaction.

No roll-call vote tally appears in the transcript excerpt; commissioners completed signature pages at the meeting so the county could deliver the executed documents to bond counsel and the Public Building Commission for closing. The commission noted the hospital district has been making principal payments and maintains reserves and that a reserve will remain in place for the refunded bonds.