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Randall: The only thing I might add to that answer is that
none of these plans have gone to bed, and nobody knows right now
how much it is going to cost; we are working with estimates of
costs. It is still very possible should all this go through
favorably, that the actual bids on the project would come in
lower than the requested amounts. In that case, you sell only
enough bonds to pay for what you do. And you have the authority;
no bonds are sold by the hospital.
All bonds are issued and sold by Iredell County, and the
board of commissioners will always have control up to the
time the bonds have been sold and you all have received the
money from the sale of bonds. The board here will have full
authority to control what is issued and what is sold and when it
is sold. The hospitals will have to come before you and show
you their costs of bids and the sheets of this type before any-
thing is finalized as far as sale of bonds.
A referendum, if you call it, and I don't mean to be
negative in this respect, but that hasn't been decided. But a
referendum simply gives the county board the authority then to
issue such bonds. You are not ever required to issue those bonds;
it is up to the county board at any point whether you want to go
with the indebtedness.
Campbell: Could I ask a question? You are saying that the
bond referendum is held and passed, the board of commissioners
could still not issue any bonds if they saw the economy or . .
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