HomeMy WebLinkAboutC.054.93008_0101 (2)60;R% 25 P,,Ad6 4088
Randall: Yes, sir. Such things as falling economy or
too high interest rates and that type thing, and you all felt
it was not wise to undertakethe project or the financing, the
county board certainly has the legal right to . . . You do
have a number of years, I may stand to be corrected, I
believe from the time the referendum is passed, you would have
a period of about seven years in which to issue bonds that
are authorized by the referendum. And if at the end of seven
years you have not issued the bonds, of course, it would be a
statute of limitations.
Murdock: I understood the other day at the Local Government
Commission that you could sell a portion of the bonds at a time.
Randall: Yes, that's right. The only problem there is
obtaining your bid. I think the larger number of bonds you
sold the better bid you might get on interest, the lower
interest rate you get. If you parcel them out a million dollars
at a time, you can expect the interest rate maybe to be one or
two points higher because of small issue and then your expense
of just handling the issue would go up some.
Troutman: Let me direct a question to Lowrance. Do you
in fact as of today have your certificate of need for 120 beds
in hand?
Lowrance: We talked this morning, we had a call this morning
from the certificate of need office. We were advised by the
assistant to - - - that our certificate of need is in the mail
today and we should expect it no later than Thursday.