The Bowie Hospital Authority Board of Trustees accepted a bid for mineral leases Wednesday and will more ahead with a loan to help process the intergovernmental transfer of funds.

Six bids were received on the mineral leases in a second round of bidding. William B. Santo won the bid with a high figure of $47,893.41. The bids ranged from a low bid of $10,000, to a pair bids at $36,675 and $38,000 to another pair at $40,000.

The hospital authority will obtain a loan from Southside Bank of Tyler for $315,707.29, which will be used for the intergovernmental transfer of funds. Through this federal program four times a year a hospital can send funds to the state and it is then partially reimbursed for uncompensated care.

Chief Executive officer Lynn Heller explained they found the hospital is eligible for one more IGT with an initial estimate of $400,000 on Jan. 27. On Feb. 29 it would get back about $690,000, providing additional funds for the hospital and paying back the loan. There was a unanimous vote to proceed with the loan for the IGT.

The board met in a half-hour executive session to discuss real property, but back in open session no action was taken.