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Boa 25 PPA70
At this time, I would like to recognize Mr. Arnold Nunnery
who will give Iredell Memorial's statistics.
ARNOLD NUNNERY, ADMINISTRATOR, IREDELL MEMORIAL HOSPITAL
Mr. Chairman, ladies and gentlemen:
I would like to break the, give you the facts of the
financial findings in this project, this plant, as I would
know it.
I would like for you to look at this column. This
is general obligation bonds. We have had figures for
revenue bonds as well.
Tonight we are talking about general obligation bonds.
We are talking about needing $18 million for the building,
$14 million in construction funds, $14 million in construction
costs, and an additional $4 million for equipment, fees,
and contingencies, for a total of $18 million.
It will cost approximately $100,000 to issue the bonds
and the interest expense to it during the construction,
gives you $4,215,000 figure, for $22,315,000.
Where does it come from? We are asking the citizens
to approve out part in the general obligation bonds $14,050,000
. . . All these figures are based upon 12% interest rate
for general obligation bonds. That's the interest rate