HomeMy WebLinkAboutC.054.93008_0123Box 25 PA6E968 4110
answer sheet which we hope will clearly explain the many
complex issues before the voters. We will take advantage
of this opportunity and every opportunity to answer
questions and present factual information. The issue of
need, borrowing, and repayment are complicated, and they
deserve repetition and full public hearing, and we welcome
that.
(Mr. Shoe narrated the slide presentation, showing
the hositals' proposed needs.)
Now let me show you the cost structure very quickly
for Lowrance Hospital, and again I will ask Jeff Pearson
to help.
The estimated total construction cost is $5,278,850.
The estimated total capital cost, including architect and
consulting fees, equipment, contingencies and capitalized
construction period interest is $10,646,000.
The hospital anticipates financing the project through
the issuance of general county obligation bond to be paid
100% from hospital revenues. Our auditors have determined
that this is quite feasible. Assuming an interest rate
of 12.5% and a term of twenty years, the estimated borrowing
requirement of the financing is $8.7 million.
The hospital plans to raise at least $500,000 in
contributions and endowments and provide $545,000 of
equity and $901,000 of capitalized interest during
M