According to an article in the Times the other day our county hospital has only paid $5.7 million to reduce the principal on the $120 million in bonds issued in 2008.
That’s an average of $814,000 per year over the last 7 years. At this rate it will take another 140 years to retire the bonds.
That obviously cannot be the plan. They must be planning to increase the principal payments at some point. The question is what that will do to our property taxes.
According to the article we have paid almost $42 million in interest and only about $6 million toward principal.
We don’t get to elect the hospital board or the CEO of the hospital.
Our elected county commissioners court has responsibility for the hospital budget and bonded indebtedness.
They either have not been paying attention or they have decided to stick it to us in the future.
It looks like our only option here is at the voting booth.
We deserve better