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NMH wants citys help with financing

 

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A nonprofit corporation is seeking the city of Havre's assistance in securing $2.5 million in tax-exempt financing from a local bank.

Northern Montana Hospital is asking the city to issue bonds for $2.5 million to purchase new CT and MRI scanners. Under Montana law, a nonprofit corporation can secure financing through the issuance of bonds with tax-exempt interest by a municipality. The city would obtain the financing from Wells Fargo Bank and in turn loan the money to the hospital. Northern Montana Hospital would assume all responsibility for repayment of the debt.

On Monday night the Havr...



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