HomeMy WebLinkAboutC.054.93008_0235 (2)Boa 26 PAGE 52 4214
The $100,000 is an estimate that we have used to
cover the cost associated with the issuance and sale of
the bonds. Part of that would include legal fees for
the state's bond attorney to give his opinion that they
are tax exempt, printing costs for actually printing
the bonds, you have quite a number of bonds to print.
We have an official statement to print. There would be
other legal fees and miscellaneous costs associated
with that sale. The number that we've used is what we've
considered to be a high estimate, and actually the cost
may be lower than that for this issue, but, we did include
it there so that it would be paid out of future revenues
of the hospitals. Was that sufficient?
FRANK ------
I would like to ask a question. I believe it was
stated that the hospitals would make $4 million in a year.
I wonder how much it would take to spend to keep the
hospitals just going for six years. Six years at $4
million a year would run -- - $24 million. Now in six
years, we could pay the thing off, and we wouldn't have
to borrow any money in six years. Am I correct in that?
I believe that was the statement that was made.