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Council weighs undoing permanent trust created from 1999 hospital sale to fund city health plan
Summary
Staff told council the $18 million public health and safety trust established from the 1999 sale of Bossier Medical Center currently permits spending only interest; the administration discussed undoing the permanent trust so the council could set thresholds and use funds to shore up a city health-insurance fund.
City budget staff outlined a proposal to seek authority to change how proceeds from the 1999 sale of Bossier Medical Center are used, saying the current public health and safety trust is permanent and allows spending only interest on the $18 million principal.
Miss Nottingham told the council the trust was created by a public vote in 1999 and “we are only allowed to spend the interest earned on the $18,000,000 that was from the proceeds of the…
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