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Bond issue approved to help Blessing refinancing
Published: 9/30/2008 | Updated: 1/23/2009

By EDWARD HUSAR

Herald-Whig Staff Writer

The Quincy City Council on Monday agreed to issue up to $22 million in tax-exempt bonds to help Blessing Hospital refinance $17 million in existing bonds and make $5 million in capital improvements.

The council, without discussion, voted unanimously to use the city's bonding authority to assist the non-for-profit hospital. This will require no financial commitment by the city.

Refinancing its existing nine-year-old bond issue at today's more favorable rates will enable Blessing to save some interest costs. In addition, the new issue will provide some extra cash so the hospital can acquire a linear accelerator, renovate the inpatient rehab unit and update the hospital's heating, ventilation and air conditioning systems, according to a Blessing spokesman.

Blessing officials have agreed to pay the city a $10,000 service fee for using the city's bonding authority.

A public hearing on the bond issuance proposal will be held Oct. 20 in conjunction with that night's City Council meeting.

In other action, the council awarded a $166,452 contract to Diamond Construction Co., the low bidder, to resurface five city blocks.

Assistant City Engineer Marty Wagner said the work will be done along King's Ridge from 28th to 30th and on Wilmar Drive Southeast from Cherry Lane to Wilmar Drive North. The project also will include a small cul-de-sac at Trinity Court. Work should get started by mid-October, he said.

The council passed a resolution adopting the Adams County Disaster Mitigation Plan Supplement, which spells out steps property owners and public entities can take to minimize damage in the event of various disasters.

The county first initiated a mitigation plan in 1997. Inspired by the historic flood of 1993, that plan focused primarily on ways to mitigate damage caused by flooding or levee failures. It also provided some guidance for guarding against certain acts of terrorism, epidemics and biological threats.

The plan has since been expanded to include mitigation steps for about a dozen natural disasters, such as tornados, earthquakes, fires, explosions, power outages, pipeline ruptures or severe weather.

John Simon, director of the Adams County Emergency Management Agency, said the county is required to have a mitigation plan in place if it wants to seek money from the federal government for any mitigation-related projects. The Adams County Board adopted the plan in July.

The council referred to the Plan Commission a proposal by Luke Lansing Construction to build an 11-lot subdivision on the west side of the street between 1118 and 1328 S. 48th. The council also forwarded to the Plan Commission a request by Darryl Winegar of Jefferson City, Mo., for a planned development at 4827 State.

Mayor John Spring announced City Clerk Jenny Hayden was one of three local government representatives in Illinois appointed to the Social Security Number Protection Task Force by Attorney General Lisa Madigan.

The council also:

* Received a plaque from the Breakfast Optimist Club noting Quincy was recognized as an "outstanding race city" in the 2008 All-American Soap Box Derby.

* Confirmed Spring's reappointment of Alderman Bob Klingele, D-3, to the Quincy Housing Authority.

* Authorized the Historic Quincy Business District and the Pink Pass It On in the District Committee to hold a five-kilometer walk Oct. 25 as a fund-raiser for Blessing Hospital's Breast Center.

-- ehusar@whig.com/221-3378



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