Latest City of Siloam Springs News

Posted on: October 11, 2017

City Saves Money on Loans for Building Renovations

Piggy Bank

We all know the importance of savings. The City works hard to save money where it can. That’s why the renovations of the Police Department and Fire Station 3 in 2013 were paid out of what is referred to as the “hospital fund”. The City saved over $110,400 that would have otherwise have been spent on interest for a loan.

Siloam Springs Memorial Hospital was sold in 2009 with approximate proceeds of $10,500,000. Some other projects that benefited from the “hospital fund” were ambulance remounts, the demolition of the old hospital, the construction of the new library, construction of the Eliana Chacon Memorial Park on Lake Francis Drive.

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