Bravo: Commissioners, county council earmark future hospital sale proceeds for a destination not labeled Community Foundation.

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Note the author’s use of “clawed back,” and join me in a resounding SMH.

Bill Hanson will be self-immolating soon, but will his own newspaper have reporters available to cover the bonfire?

Also see that these votes cut across party lines, and that Mark Seabrook for once found himself outvoted. It’s the sort of thing to celebrate, if for no other reason than freshening the leadership gene pool.

Incoming commissioner Billy Stewart had this to say when I thanked him on Facebook: “I will always put our citizens first and hold ALL elected officials accountable for their actions. Political party doesn’t matter, what’s right does.”

If you’ve been wondering why I’ve been drinking more coffee with Republicans than Democrats … what Mr. Stewart said.

Ordinance affecting future Floyd Memorial Hospital proceeds repealed, by Chris Morris (Don’t Come Around City Council No More)

Yearly payments will go into hospital fund

NEW ALBANY — The Floyd County Commissioners and Council passed Floyd County Ordinance 2017-3 Tuesday night in a joint meeting. The ordinance repeals three of the five sections in an ordinance passed last November, dealing with future proceeds from the sale of Floyd Memorial Hospital.

The $61 million to be paid over the next 10 years will now go into a line item termed “hospital fund” in the county budget, not to the Community Foundation of Southern Indiana as directed in the old ordinance. Where it winds up in the future is still to be decided.

However, the $70 million received from the sale of the hospital to Baptist Health at closing will be remain in the hands of the CFSI. If state legislation passes this year, which officials are hopeful it will, Floyd County will receive up to a 5 percent spend rate from the $70 million investment, but will not be able to spend the principal.

While the new ordinance does not specifically address the $70 million investment, a resolution will be written by Council attorney Steven Langdon to ensure the money will remain with the CFSI and will not be clawed back by the county.

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