Quorum Court Approves Status Change of Hospital & Vote on Millage ContinuationJuly 17th, 2012 by Joe Burgess
Monday night, the Quorum Court approved an ordinance transfering operations of the hospital to Drew Memorial Hospital, Inc. The ordinance also approved a lease of the facilities to the board, which is made up of the current DMH board of directors. Also October 9 was set as a special election day for two DMH millage questions.
The IRS has recently approved the 501C3 status for the DMH group, which should take effect on October 1. This change will provide $1,000,000 in benefits to the hospital, and change the hospital’s tax status from “governmental” to “non-profit”.
The Quorum Court also approved a special election to be held on October 9, to allow voters to decide on two millage questions, pertaining to the hospital.
First will be a bond issue re-financing the balance that’s currently owed on the existing hospital bonds up to $1,250,000, likely getting a much lower finance rate,
Second will be a bond issue for capital improvement (construction and equipment) at the hospital, such as the nes surgery center, up to a maximum of $4.300 000.
It was clearly explained that this will not be a millage increase, but a continuation of the current rate.
County Attorney Cliff Gibson led the explanation to the Quorum Court, assisted by represented by representatives of Stephens, Inc, and Lindsey, Wright, & Jennings.
Videos of the full event are posted, including the reading of the entire ordinances.