The Geary Community Hospital Board of Trustee’s is recommending to the Geary County Commission and the Public Building Commission to consider refinancing a 10-year-old bond.

The bond was approved in 2006 to finance projects to Medical Arts Building II and parking lot work. Kevin Cowan of Gilmore and Bell, Geary County’s Bond Council, presented the refinancing options to the Board of Trustee’s Tuesday.

Dr. Joe Stratton, GCH CEO explained that the hospital and county could be looking at considerable savings over the first two years of refinancing.

“According to the interest rates that they’re looking at right now, and interest rates change day-to-day, but if everything’s being equal, we get down the road a couple of months on this, into the month of May and we can close on the bond deal, we will be able to save approximately $450,000 somewhere in that neighborhood in the next couple of years,” said Stratton.

The county commission and public building commission will now decide whether or not to refinance the bonds. The county commission has discussed the issue and are expected to move forward with it.

Under a proposed  schedule by Gilmore and Bell the refinancing deal could by completed in May.