MEMORANDUM
TO: Pete Sprague, Assembly President
Members, Kenai Peninsula Borough Assembly
THRU: Dale Bagley, Mayor
FROM: Scott Holt, Finance Director
DATE: December 22, 2003
SUBJECT: Ordinance 2003-19-33, Appropriating $49,900,000 in Central Kenai Peninsula Service Area General Obligation Bond Proceeds for the Central Peninsula General Hospital capital improvement project
The attached ordinance appropriates $49,900,000 in service area general obligation bonds to the service area's capital project fund for costs associated with capital improvements related to the Central Peninsula General Hospital.
As provided in Resolution 2003-121, the bonds were sold December 18, 2003. The average maturity interest rate is 4.2 percent.