Park Rapids hospital seeking conduit bond

Park Rapids hospital seeking conduit bond

The Park Rapids City Council on Tuesday, Aug. 12 discussed a request to serve as an intermediary for a hospital bond. During a work session, City Administrator Weasner told the council that CHI St. Joseph’s Health is requesting a conduit bond – a municipal bond issued on behalf of a private entity, with a government entity acting as a “conduit” or pass-through. “They are part of a consortium of different hospitals, and the three of them that are…