After announcing a Special Board Meeting to vote on a resolution to call for a Tulare hospital bond election, the Tulare Regional Medical Center has posted the agenda for the upcoming meeting on its website, including an outline of the proposed bond.
If adopted by the Tulare Local Health Care District Board of Directors as proposed, the election and bond would:
- submit to residents of the Tulare Local Health Care District a bond proposal not to exceed $55m “for the purpose of financing and refinancing the expansion, improvement, acquisiton, construction, equipping and renovation of health facilities of the District.”
- call for an all-mail ballot election, in the same manner as the Measure H bond in Visalia, for August 30, 2016,
- require that proceeds from the bonds not be used for administrators’ salaries,
- require that the Chief Financial Officer of the TLHCD file a report to the board no later than five months after the end of each fiscal year, but would not require a bond oversight committee.
The special meeting will be held in the conference room at Evolutions Fitness & Wellness Center, 1425 E. Prosperity Ave., in Tulare.
The hospital states that the $55 million bond will “enable the district to complete its tower and meet the seismic mandates of SB 1953 to ensure survival of the hospital in the event of an earthquake.”
It also states that “additional GO bonds were always going to be required. The 2005 funds have been exhausted and construction since then has been funded with internal equity.”
The meeting agenda and proposed resolution and ballot measure are available below.