Tommy French, District 2, asked for specific language providing public assurance that the interest savings go towards operational costs.
The resolution includes protections preventing the county from ever leveraging the millage. Unrestricted cash and investment levels must be maintained throughout the agreement.
Two-year debts service payments are part of the proposal offering the county leeway to potentially sell the hospital or other action before ever having to leverage the tax on citizens.
“The two years is the plan, so we don't ever have to get to that point,” Aycock said.
Cash balances averages of $12 million haven't changed much over the last four years, according to Aycock. The job and subsequent benefit losses have significantly impacted ORMC and physicians.
Craig asked about the overall value of the medical asset.
“There's lots of value that would protect the county if the sky fell,” Craig said.
Sammy Hall, District 3, wants to make sure citizens know the community isn't going to lose the hospital if the county doesn't sign up.
“We are basically just looking for a refinance of the bonds,” Hall said.
The District 3 commissioner said the county must have more expressed protection within the intergovernmental agreement.
“We all hope nothing is going to happen, but we have to be prepared that if something does go wrong everybody is protected,” Hall said. “It's our job to make sure the taxpayers are protected.”
Hall said the board would add the resolution by next Tuesday's meeting or possibly the following commissioner gathering March 19.
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