Cape County commission allows bonds for Saint Francis

EDITOR'S NOTE: This story has been corrected to note John Layton is the attorney for the IDA, not Saint Francis.

Cape Girardeau County commissioners on Monday passed a resolution that will allow tax-exempt development bonds to be issued to Saint Francis Medical Center. The bonds, from the Industrial Development Authority, will help the hospital refinance debt and help it fund a $127 million expansion and renovation project.

There is no financial obligation for citizens, according to John Layton, attorney for the IDA, who presented the resolution to the commission. The IDA voted last week to approve issuance of the fixed-rate bonds, which can be up to the amount of $125 million. Saint Francis is building a new five-story medical tower and plans to upgrade existing facilities. Ground was broken on the project in November.

The tax-exempt status for the bonds can be received only with the commission's approval. The IDA will vote on a resolution to issue up to $90 million in variable-rate bonds for a total of up to $215 million in funding for the hospital's projects at its next meeting April 18.

Commissioners also heard from Mark Winkler, area coordinator for the State Emergency Management Agency, who oversees county participation in regional disaster plans for Southeast Missouri. Winkler visits county commissions annually in the first part of the year to seek approval for counties to take part in the plan, which promotes the formation and use of a multiagency coordination center during disasters.

Cape Girardeau County already is signed on this year to participate. Winkler said a review of the county's current emergency management plan shows it to be in "really good shape."

Other action

Eric McGowen, the county's information technology director, proposed an upgrade to the county's Internet infrastructure. Commissioners approved changing Internet providers to reduce the monthly bill for Internet service from $821 to $676 and are seeking bids for equipment.

eragan@semissourian.com

388-3627

Pertinent address:

1 Barton Square, Jackson, Mo.

211 Saint Francis Drive, Cape Girardeau, Mo.