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Different financing needed for hospital expansion

Posted: Wednesday, October 01, 2003

Of particular importance is Proposition No. 2, Hospital Capital Improvement Bonds. We think the financing should be in the form of revenue bonds instead of general obligation bonds. According to the hospital administration and the borough mayor, the hospital has shown a bottom line profit in the last 17 out of 18 years and 19 out of 20 years, respectively.

This tells us binding the property owners with additional property taxes is not necessary. The borough government administration made the decision to go the general obligation bond route without consultation of all the property owners affected.

We urge everyone to vote "No" on Proposition No. 2 to give the borough administration time to reassess the situation.The hospital improvements are needed. The financing vehicle is wrong.

Bill and Samon Arnold

Nonpartisan super voters

Sterling



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