Assembly OKs bonds for CPH

The Kenai Peninsula Borough Assembly voted on Tuesday to move forward with issuing more than $3 million in bonds to fund a Central Peninsula Hospital project.

The bonds, which were originally proposed to fund medical equipment purchases for the Central Peninsula Hospital in Soldotna, will be extended on short, 8-year terms, according to Kenai Peninsula Borough Mayor Mike Navarre. 

Assemblyman Blaine Gilman objected to issuing the bonds. He argued that because the hospital currently has approximately $13.8 million available in its plant replacement and expansion fund, issuing more bonds would incur unnecessary debt on the hospital. The hospital already has more than $57 million in bond debt, and using unencumbered funds to pay for equipment is more practical, Gilman said.

However, Central Peninsula Hospital CEO Rick Davis supported the bond issuance, saying that because the hospital has multiple significant upcoming capital projects to fund, issuing bonds would be a wiser business move.

Navarre also supported the issuance of bonds, saying the low interest rates make it an opportune time to do so. The assembly unanimously approved the motion. 

The construction on the new building began in May 2014. It is slated to be completed in December.

More in News

Harley St. Clair, 5 weeks old, meets Santa Claus for the first time at Christmas in the Park at Soldotna Creek Park in Soldotna, Alaska, on Saturday, Dec. 7, 2024. (Jake Dye/Peninsula Clarion)
‘A magical, feel-good night’

Christmas in the Park brings festivities, light to Soldotna

Assembly President Peter Ribbens speaks during a meeting of the Kenai Peninsula Borough Assembly in Soldotna, Alaska, on Tuesday, Dec. 3, 2024. (Jake Dye/Peninsula Clarion)
Assembly considers cutting an open public comment period from its meetings

There are two opportunities for open public comment during meetings of the… Continue reading

Seward Fire Department stands under cloudy skies in Seward, Alaska, on Thursday, Nov. 7, 2024. (Jake Dye/Peninsula Clarion)
Seward adds 3rd full-time paid firefighter

Seward Fire Department is struggling to find coverage for all hours of the day, according to chief

Sections of Homer Spit Road that were damaged in the Nov. 16 storm surge are temporarily repaired with gravel, as seen on Thursday, Nov. 21, 2024, in Homer, Alaska. (Delcenia Cosman/Homer News)
Governor declares state disaster emergency following storm damage

The declaration applies to Homer and Ninilchik

Seward City Hall is seen under cloudy skies in Seward, Alaska, on Thursday, Nov. 7, 2024. (Jake Dye/Peninsula Clarion)
Seward approves raises for city staff, rejects bed tax increase

The third and final public hearing on Seward’s budget will be held on Dec. 16

Sockeye salmon are gathered together at a test site for selective harvest setnet gear in Kenai, Alaska, on Tuesday, July 25, 2023. (Jake Dye/Peninsula Clarion)
Kenai accepts funds for 2018 and 2020 fishery disasters

Disaster relief is still outstanding for 2021, 2022 and 2023

A Kenai Peninsula Food Bank truck in the Food Bank parking lot on Aug. 4, 2022 in Soldotna, Alaska (Jake Dye/Peninsula Clarion)
Food bank’s ‘Adopt-A-Turkey’ fundraiser extended through end of year

The Kenai Peninsula Food Bank on Tuesday extended their annual Adopt-A-Turkey fundraiser… Continue reading

Superintendent Clayton Holland speaks during a meeting of the Kenai Peninsula Borough School District’s Board of Education in Soldotna, Alaska, on Monday, Dec. 2, 2024. (Jake Dye/Peninsula Clarion)
School board mulls community survey for possible 4-day week

The board considered a set of surveys gauging from staff, parents and older students

Shannon Ferguson speaks during a meeting of the Kenai Peninsula Borough School District’s Board of Education in Soldotna on Monday. (Jake Dye/Peninsula Clarion)
Contract for Soldotna school consolidation design OK’d

The borough is seeking a consultant to create a plan to renovate existing school facilities

Most Read