09/09/1985r
CLEARWATER HEALTH FACILITIES AUTHORITY
September 9, 1985
The City of Clearwater Health Facilities Authority met in
special session in the Mayor's Conference Room, City Hall on Monday,
September 9, 1985.
The following members were present:
C. J. Wollett
George Bouse, Jr
Frank George, Jr
Florence Hosch
Absent:
Ruth Condon
Also present were:
Chairman
Vice - Chairman
Emil C. Marquardt, Attorney for Morton Plant Hospital
Jerry Neal (M. P. H.)
Glen Hubbard (M. P. H.)
Duane Houtz (M. P. H.)
Spencer Kisby (M. P. H.)
Bill Cantlin, Chief Accountant, City of Clearwater
Frank X. Kowalski, Acting City Attorney
Cynthia E. Goudeau, City Clerk
The meeting was called to order at 4 :00 p.m. by Chairman C. J.
Wollett. He presented the minutes of the April 17, 1985, meeting which
had been mailed to the members of the Authority. Upon hearing no
corrections or additions, he declared the minutes approved.
The purpose of this meeting is to consider a Resolution authorizing
the issuance by the Authority of not exceeding $40,000,000.00 of Hospital
Revenue bonds, Series 1985, Morton Plant Hospital Project. Attorney
Marquardt stated the Treasury II Bill will eliminate tax - exempt bonds for
not for profit organizations after December 31, 1985. They are requesting
the Resolution be adopted to start a 60 day time frame for validation.
The projects proposed to be funded by this bond issue were reviewed.
They are as follows:
ITEMS REQUIRING A CERTIFICATE OF NEED:
40 BED REHABILITATION FACILITY $ 6,026
1000 CAR PARKING GARAGE 5,380
REPLACEMENT OF HOSPITAL COMPUTER SYSTEM 5,203
NORTH WITT ADDITION & SAME DAY SURGERY CENTER 5,370 -
ADLER LABORATORY 2,735
MAGNETIC RESONANCE IMAGING CENTER 2,302
27,016
ITEMS NOT REQUIRING A CERTIFICATE OF NEED:
FIRE ALARM SYSTEM RENOVATIONS 721
COMPREHENSIVE OUTPATIENT REHABILITATION
FACILITY 700
CARDIOVASCULAR CATH LAB CONSTRUCTION
& RELOCATION 450
OBSTETRICS BED CAPACITY ADDITION 400
AUTOPSY ROOM & LAB REMODELING 397
OUTPATIENT DIAGNOSTIC FACILITY 561
3,229
ESTIMATED ANNUAL RENOVATION EXPENDITURES
(THREE YEARS) 6,000
LAND ACQUISITIONS 1,615
TOTAL PROJECT DEMAND $37,860
Those projects requiring a certificate of need have said certi-
ficates. It was stated some of the projects are completed and some
are currently under construction. Chairman Wollett reiterated that one -
third of the bond issues are to arrange better financing for monies already
spent which is allowed by law. All projects have been approved by the
various Morton Plant Hospital Boards. A smaller issue, which was approved
several years ago, has been paid off.
Mrs. Hosch questioned what responsibility the City would have if the
bonds are defaulted. The response was the City would not be liable for
any monies. Chairman Wollett questioned, with admissions decreasing, stays
shortened and Medicare payments down, whether or not these projects are
necessary. It was stated in order to stay competitive with other health
facilities in the area, these projects are needed. Spencer Kisby stated
that the overall thrust in health care is away from in- patient care. Four
of the projects proposed are for out - patient treatment.
The need for $40,000,000 in bonds was questioned when the listed
projects show a cost of $37,860,000. In response it was stated that a debt
service reserve is needed and that the actual bonds should probably be
$45,000,000. Mrs. Hosch questioned why the Authority should approve this.
In response, it was stated that Morton Plant Hospital does serve mainly
Clearwater reesidents; and that if this is not approved now, money will be
more expensive to borrow and therefore, rates would have to go up. It
was stated that Morton Plant cares for indigents in the area.
Mr. Bouse moved to adopt the Clearwater Health Facilities Authority
Resolution No. 85 -1, modifying the amount of the bonds to $45,000,000
subject to page two being amended to list the approved projects. The
notion was duly seconded and carried unanimously.
The next meeting was set for September 23, 1985 at 4:30 p.m.
The meeting adjourned at 4:57 p.m.