Otto Kaiser Memorial Hospital in Kenedy, Texas, has been issued $43.8 million in tax-exempt, fixed-rate revenue bonds to fund the construction of a replacement hospital.
The 25-bed critical access hospital is the only hospital in Karnes County, Texas, and provides inpatient, outpatient and emergency services.
The planned replacement facility will be two stories tall and roughly 92,000 square feet.
Features of the replacement hospital include inpatient and outpatient surgery clinical departments, a Level IV trauma center, physical therapy services, an imaging department, post-anesthesia and secondary recovery rooms and a new endoscopy suite and central sterile supply. The facility will also have 25 private rooms.
Lancaster Pollard, a national investment banking and mortgage banking firm headquartered in Columbus, Ohio, served as senior manager and underwriter of the bonds, which received a "BBB" rating from Fitch Ratings.