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mox 25 fAaW
I realize that if they don't have other prospective
sources of revenue, I'm not trying to argue for it, but
I'm trying to answer your question. But if you don't have
. . . , that is a legal requirement, that if the bonds are
not retired by hospital revenues, then the county would have
to raise, the bottom line, this comes from the statute that
says if the hospital revenues have a short fall, the county's
general obligation is to pay the bond.
Now I'm trying to tell you how it will operate in practice,
not argue against your point, but I'm trying to answer
your question,
CHARLIE BENB'OW, STATESVILLE:
Then if the hospital can't pay the bond, than let's
figure on the amount. It's 25 cents. We still owe on
the old bonds, and that's $200,000 a year plus interest.
That amounts of 2k cents. So if we are going to have to pay,
let's see last year we paid $300,000 on the old bond last
year. If we've got to pay $3 million a year back, that's
going to be 25C rather than 2kc, So now we're
paying 2kp and then we'll have to pay another 25C. It's
your money.