Photograph of the Kitimat General Hospital loan by law will be covered by a unique 20 year old debenture plan described as a "stroke of genius" by councillor Bob Ferrie. The plan, shown above was resolved by municipal manager Cyril Henderson. Under those formula, interest payments start next year but principal payments are deferred until 1996 so as to hold debit service cost to $136, 000 instead of 195, 000. Black portion shows municipality's debt service cost before hospital loan by law.
Photograph of the Kitimat General Hospital loan by law will be covered by a unique 20 year old debenture plan described as a "stroke of genius" by councillor Bob Ferrie. The plan, shown above was resolved by municipal manager Cyril Henderson. Under those formula, interest payments start next year but principal payments are deferred until 1996 so as to hold debit service cost to $136, 000 instead of 195, 000. Black portion shows municipality's debt service cost before hospital loan by law.
