Stillwater News Press

March 26, 2013

Stillwater Medical Center Authority Board likely to postpone trust changes

By Russell Hixson
Stillwater NewsPress

STILLWATER, Okla. — The Stillwater Medical Center Authority Board of Trustees is expected to postpone a vote Tuesday to change the trust indenture.

The hospital board will meet at 5:30 p.m. at Stillwater Medical Center.

Hospital Chief Executive Officer Jerry Moeller said Mayor John Bartley would not be able to make the meeting, prompting a delay to the April meeting.

 One of the changes will create a non-voting position on the board open to any physician, including those employed by the hospital. Having medical professionals represented on the board has been a goal but the pool of candidates is limited. Trustees are not allowed to have a contract with the hospital to prevent a conflict of interest during votes. This prevents many medical professionals from being considered.

Another proposed change allows the hospital to issue bonds at 5 percent of total trust assets or 5 percent of existing total indebtedness of the trust. Moeller said with shrinking debt and strong assets the hospital will have an easier time issuing bonds if it chooses to do so in the future. Moeller said the hospital has no immediate plan for a bond issue. The change would also make the indenture more compliant with state law governing public trusts.

Moeller’s report to the board will include a recap the hospital’s annual visit from Det Norske Veritas to keep its accreditation. Moeller’s report states the hospital did well, receiving only 13 nonconformities mostly related to documentation. Most facilities recieve between 20 and 30, the report shows. Moeller noted surveyors gave the hospital high praise for its patient care.