COLDWATER, MI (WTVB) – Branch County Administrator Bud Norman and County Treasurer Ann Vrabic says the Branch County Building Authority recently sold its bonds for the Maple Lawn Medical Care Facility Expansion Project at a thirty year competitive bond sale which attracted seven bidders.
The winning bidder was J.J.B. Hilliard, W.L. Lyons, Incorporated at a true interest cost of 2.883050 percent. According to Branch County bond counsel John Axe, the true interest rate was one of the lowest interest costs ever recorded on a 30 year bond issue in Michigan.
Officials say Branch County saved over $1.9 million under the original estimates at the bond sale thanks to the county’s Standard and Poor’s credit rating as well as the County’s financial position which they say is strong.
The bonds are being issued to pay for the construction and renovation of the Maple Lawn Facility and they are to be delivered Wednesday, October 5.
