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Indian Valley Record
Greenville, California
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January 11, 2012     Indian Valley Record
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January 11, 2012
 

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8A Wednesday, Jan. 11, 2012 Indian Valley Record Mona Hill In September CEO Doug penalty and PDH would pay years from the date of clos- bonds and set limits on the Staff Writer Lafferty t01d directors that off the $160,000 it received ing: Jan. 9, 2012. amount assessed to repay the mhill@plumasnews.com while United Health Care from the Celtic loan with As with the Celtic loan, dis- bonds. (UHC) was working on a loan funds from UHC. trict homeowners will not be Crosslin said PDH would The first order of business package for California's criti- Interest on the five-year, responsible for funding re- pay $40,166 from its cash at the Plumas District Hospi- cal access hospitals, it would $1.5 million loan is 3.75 per- payment through new prop-each month into a trust ac- tal board meeting Jan. 4 was not be ready in time to fund cent. Loan provisions also in- erty tax revenue. The note count held by note trustee, to approve a resolution to au- the launch of the medicalclude rebates for prepay- purchase agreement specifi- The Bank of New York Mel- thorize an indenture andrecords conversion project, ment: a 10 percent discount cally prohibits ad valorem lon Trust Company, N.A., in promissory note to replace Eaglei. of the.original principal tax revenue to secure thepreparation for the semian- the $1.5 million bridge loan Finance Director Cindy amount at three years; a 7.5 note. nualpayments. agreement with Celtic Leas- Crosslin said the Celtic loan percent discount at 3-1/2 District Measures A and BAccording to the debt ing signed in September 2011. had no early repayment years and 5 percent at four approved issuance of general service schedule Crosslin 11.7 the right to determine all reasonable offers, Hurry in the Selectio FINAL HOURS NOWthru FRI %7 SAT 9-7" SUN 11-7 :: MON, JAN 16th 9c m ol 0pro & 2830 Main Street' Susanviileo 530-257-7788 ::: . Cash, Visa, Mastercard, American Express and approved Checks Accepted ~ ~ Discounts are c~f,~ ori.g~naf and regu!ar prices which may or |T!oy not }~ave resulted i l pr or sc es ALL SA~:S ARE F!NAL, A ! mercier nd se I~ It~ soid "as.-,:.:.". No Spe, ciai rde~'s., La"/-Aways. Quantities are Jimited.. First come firs? to save. A~ pricer soles and previous discounts " J ~ exck~ded. No~ responsible for typographiccq errors. Pictures are for ij ustro~ c n r)u,,'poses only. See store for fu~H~,er ' ~ ~ " . . C~@,C~hS, I II i~ r~ ~ ~ u~,, H, ,,r,~ ..................................................JlIIIIIIIIHIIII IIIIIIIIL I I I IIIIIIIIIII I I IIII IIIII IIII IIIIIJ I I IIIIIII provided, interest-only pay- ments are due July 1, 2013 ($82,968.75), and Jan. 1 and July 1, 2014 ($28,125 each), be- fore the first payment of principal ($482,000) and inter- est ($28,125) is due Jan. 1, 2015. Total cost of the loan is $1.725 million at full maturi- ty. Early repayment incen- tives significantly reduce the principal amount, depending on the duration of the loan. PDH undertook Eagle i to meet federal requirements. Failure to covert to electron- ic medical records would mean significantly lower re- imbursement rates for Medicare and MediCal pa- tients. Lafferty plans to utilize federal and state reimburse- ments to pay off the loan bal- ance, as well as fund addi- tional conversion require- ments over the next three years. To maximize reim- bursement rates, PDH needs to begin its "meaningful use" phase May 1, 2012. PDH director John Kimmel told fellow board members that with the UHC note, it ap- peared no additional borrow- ing would be required. In a roll call vote, the board unanimously approved the resolution. Eastern Plumas Health Care Foundation just re- ceived a very generous dona- tion of 6,000 shares of stock, currently valued at $150,000, from an anonymous couple. It's a rags to riches story: The donors were visiting Nifty Thrifty, where Auxil- iary president Kathy Davis began tellln them about the hospital, its struggles and its successes. The couple said they were so touched by the sincerity of her account that they made arrangements to visit the hospital. They were given a tour this past summer, and were impressed with EPHC's level of service as well as the dedi- cation of the employees they met. The couple decided that donating to the hospital would be the best way to help this community. Fur- ther, they said they hoped their donation would en- courage others to do the same. EPHC's chief financial of- ficer, Jeri Nelson, said she thanks the donors for their surprising and generous gift. She opened a broker account for the stock, as the donors expect it to be a solid invest- ment for the hospital. "It's nice to have what I call my 'sock drawer,'" she said, "save it for a snowy day." This is especially true after the recent threatened state cuts to the skilled nursing facilities -- cuts which re:e, for now, on hold. While they didn't want their names to be known, the couple agreed to a press re- lease in the hopes that oth- ers would be motivated to follow their lead and support Eastern Plumas Health Care with a substantial donation. \, There will be a contra dance at the Quincy Vets Hall Saturday, Jan. 21, at 7:30 p.m. "Contra dancing is super easy and super fun for all ages," said coordinator Leslie Mink. Dances are taught and called, and a brief introductory session is scheduled promptly at 7:30. More information is avail- able from Mink: 283-0137. f /:>