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Mitchell council to consider cashing in CD to make Care Center payment

Mitchell council to consider cashing in CD to make Care Center payment
City of Mitchell photo of Care Center

The Mitchell city council will hold a special meeting Thursday evening to consider cashing in a CD in order to make the Mitchell Care Center bond payment of $76,000.

The city council earlier this year refinanced their Care Center bond debt over a five year period and this is the first payment on that refinancing. City Administrator Jeff Sprock says despite the fact the city is looking to take money out of savings to make the first payment, he believes the financial issues the facility has had recently are beginning to turn around.

Sprock says the financials for the months of July and August show it made a total of $28,000 over those two months. Sprock told KNEB News Rural Health Development’s Regional Manager Shane Filipi is “making progress” as he works with Administrator Stephanie Hahn on where the Care Center needs to be financially.

Sprock did say the council will also have a discussion on changing the Care Center’s management due to concerns from a council member about using the CD from savings to make the first payment on the refinanced bonds.

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