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HomeMy WebLinkAboutC.054.93008_1149 (2)702 of Commerce chosen by the Mooresville/South Iredell Chamber of Commerce. It was the consensus of the board that each entities should be asked to submit three names for their respective categories, and that they be submitted to the Iredell County Board of Commis- sioners for formal appointment. Terms were discussed as being established for four years, beginning January 1, 1987. MOTION from Commissioner Murdock to pass the resolution concerning the money from the sale of Lowrance Hospital. In discussing the motion, Commissioner Mills suggested that an item (d) be added to read as follows: ment. (d) That at the time of the sale it was the intention of the Iredell County Board of Commissioners and the Lowrance Hospital Board of Directors that the funds from the sale of Lowrance Hospital would be used for health-related purposes in the Lowrance Hospital service area located within the boundaries of Iredell County. AMENDMENT TO THE MOTION from Commissioner Murdock to include Item (d) as a part of the agree - R E S O L U T I O N WHEREAS, on December 23, 1985,the Board of County Commissioners of Iredell County approved the sale of Lowrance Hospital, Inc., to Hospital Management Associates, Inc.; and WHEREAS, this action to sell the hospital was requested, encouraged and supported by the Board of Directors of Lowrance Hospital, Inc.; and WHEREAS, the sale of Lowrance Hospital, Inc., to Hospital Management Associates, Inc., was finalized on January 2, 1986; and WHEREAS, the County of Iredell received $3,600,000 from Hospital Management Associates, Inc., at the close of the sale on January 2, 1986; and WHEREAS, Chapter 131E of the General Statutes of North Carolina provides that, under certain conditions, all ownership or other rights in the hospital facility including the building, land and equipment associated with the hospital may revert to the County of Iredell; and WHEREAS, there may be outstanding obligations arising from sale of the hospital or claims arising from the operation of the hospital prior to the sale or reacquisition costs in the event the hospital should revert to the County of Iredell; so therefore, be it RESOLVED, by the Board of County Commissioners of Iredell County as follows: a. That the $3,600,000 received from the sale of Lowrance Hospital, Inc., and interest earned on the sale proceeds be held by the County in a special reserve for a period of not less than five years from the date of sale of the hospital. b. That there be no expenditures from these funds except deductions from k the sale price for contractually assumed obligations, closing costs, claims ,q arising from the operation of the hospital prior to sale and the reacquisition costs in the event of default by the purchaser. c. That at the end of the period for which funds are held in the special reserve, the funds may be expended by the board of county commissioners only after receipt of recommendations from a special committee comprised of five members and appointed by the board of county commissioners, the composition of which is as follows: one representative from the medical staff of Lowrance Hospital to be chosen by the medical staff, one County Commissioner to be chosen by the Iredell County Board of Commissioners, one representative of the Mooresville Town Council to chosen by the Mooresville Town Council, one representative of the Lowrance Hospital Board to be chosen by the Lowrance Hospital Board, and one representative of the Mooresville/South Iredell Chamber of Commerce to be chosen by the Mooresville/South Iredell Chamber of Commerce. Terms are to be for four years, beginning on January 1, 1987 and concluding on January 1, 1991. (d) That at the time of the sale it was the intention of the Iredell County Board of Commissioners and the Lowrance Hospital Board of Directors that the funds from the sale of Lowrance Hospital would be used for health- related purposes in the Lowrance Hospital service area located within the boundaries of Iredell County. VOTING ON MOTION AND AMENDMENTS BY ADDING ITEM (d) AND THE ADDITION TO ITEM (c) SETTING FORTH , NUMBER OF BOARD MEMBERS, COMPOSITION OF BOARD, AND LENGTH OF TERMS.