HomeMy WebLinkAboutC.054.93008_1149702
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.