The Schleicher County Hospital District board of trustees met Monday evening, June 24th and discussed, among other things, the possibility of calling in the bond used to finance the new hospital, clinic and nursing home, and issuing new ones at considerably lower interest rate.

Board President Randy Mankin explained that the bond, originally issued in 2011, can be called in without penalty in 2020. He noted that R. Dustin Traylor, the financial advisor who assisted the district in issuing the current bond, believes that a new bond will result in substantial savings to the district.

Mankin further explained that any new bond the district might issue would be for the remainder of the term of the debt and would not extend the debt beyond the original term of the existing bond.

He noted that preliminary estimates indicated the district could save as much as $153,000 per year in debt service payments. That would result in a savings of more than $1.9 million before the bond is retired in 2036.

A subsequent meeting with Traylor is slated for Thursday, July 25th to formally consider the matter.