You're buying a new hospital and taking out loans: did you know KRV?

A letter regarding Kern Valley Healthcare Districts' newest plans to gain money long enough to get a property tax increase to pay for a 20 year old debt, a NEW loan, and a NEW hospital all by 2030. They call it a general obligation, or GOB, "gobs of money" paid for by tax payers on their property. The revenue bonds and the loan runs out in 2029, one year before the community has to build a new hospital, due to the seismic requirements from Senate Bill 1953. The hospital accelerated the depreciation on it's first round of "government type" spending practices. They have 4 more years of compensation on Medicare of 350K dollars then nothing. This new loan will add another 400K dollars, thereby containing the fire, by crossing their fingers, toes, and best friends. So, residents have a new debt, and have to pay for the new hospital mandated at this time for 2030. As you see, due to obstruction of pursuing all available options for the financial problems, it was CEO, Tim McGlew, CFO Chester Beedle, arranging plans with current insurer of the hospital's already ridiculous debt, who were the masterminds behind the set up for the GOB. Cal Mtg. makes things clear though that they will not continue to accept these shortages in payments. Time limits are set. We are relying now on the ability to make these payments if anything in this document provided by Cal Mtg. is true. In the next 18 plus years a lot could happen. Work on the dam, keeping out visitors, reduction in privately insured patients, an American revolution, we are pushing this debt and responsibility out into a very uncertain future. Even that GOB will be uncertain no matter how many strategic planning companies they hire or bond companies peddle the idea.

But the whole issue is clear, this forces the community to pay the old debt, the new loan, and a new hospital all by 2030 or be missing that famous, infamous building. (I'm sure it will be fine as a good many of us won't be around to deny responsibility for passing our debt to the future residents...it's history and people in these here parts don't like talkin' history, the only benefit would be not making the same mistakes repeatedly)

 We have not only spent our children's inheritance, but we have left them with our mess to clean up and our debts to pay. This new deal was just a way to force a GOB down our throats. We may see the hospital jump on our old friend Jerry Brown's "special election" just for the heck of it, maybe they could get the bond money. They say it's safe, nobody can get into those funds, except former CEO, Pam Ott, who has yet to be charged for that crime at Sierra Kings district hospital. I think JB is right, there will be anarchy, and it started a long time ago, at a place called the Kern Valley Hospital. "We cannot solve our problems with the same thinking we used when we created them-Albert Einstein.