COLDWATER, MI (WTVB) – The Branch County Board of Commissioners decided during their Thursday work session to bring forward a resolution which approves the redemption of all of the callable outstanding bonds prior to their maturity that were associated with the sale of the Community Health Center of Branch County to ProMedica Health System.
The bonds were issued in June of 2012 for renovating and remodeling the hospital. They are outstanding in the amount of about $3-point-6 million.
County Administrator Bud Norman said the action requires resolutions from the Commissioners and the County Building Authority as the proposed sale of the hospital from ProMedica to American Healthcare Systems which was announced in May remains under review by the Michigan Attorney General’s Office and is still pending.
Norman pointed out this ends the county’s liability.
Formal action is scheduled to take place during Tuesday’s meeting which has been moved up to 10:00 a.m. due to a couple of scheduling conflicts involving a pair of Commissioners.
I feel bad for the people who work at this hospital. They are the ones who end up on the short end.