Travis County Commissioners Court
October 3, 2006
Item 30
Item number 30 is consider and take appropriate action on resolution approving a tax exempt bond financing to be undertaken by the indiana health and education facility financing authority and the bonds have been defeesed. The annual fee, there are a few more years left and historically at least to date they've been timely paid to the county.
>> yes, sir, they have.
>> okay. Commissioner Sonleitner had another idea. The seton people's preference is the waiver.
>> well, it's the idea of -- we will have others who will come in and make the same kind of pitch to be consistent with how we treat everybody, but also recognize what an amazing facility that is going on out at miller and for a way for Travis County to be a part of this, and that is that we do not waive the fee, but we instead once we receive it instantaneousl endorse the check and donate it back to the huge project that's going on out at mueller. It allows us to stay consistent but it also recognizes that we ought not be taking that money, that we ought to reinvest it back into the very project. And I think it just allows us to more affirmatively say we believe in you, but still keep all of our procedures here at Travis County intact because the next one that comes along perhaps will not have as compelling a story as seton, so it allows us to keep the fee, keep it in there for the reason we adopted it, but yet recognize specific facilities that is going on out there and allows us to be a small part of it.
>> or we could waive the fee and indicate the reason is in addition to receiving the next how many more payments?
>> four more.
>> we also would like to see our waived fee used by seton for the children's hospital which makes it a lot more informal. Move we waive the fee and indicate the reason is we have four more payments coming in the amount of --
>> approximately 250,000.
>> -- $250,000, approximately.
>> per payment.
>> and that we see this as a way for us basically to indirectly contribute toward the children's hospital.
>> I'll second that, judge.
>> and we will indicate that in writing which makes it a bit more formal. We're not asking seton to agree with the reason, we're saying this is our reason basically. But it gets to you the same place.
>> and judge, I'm michael rigger, for the seton network and this is doug our chief financial officer and doug is not from Austin-Travis County, he is a 4-h alum.
>> good for you. You should have said that up front.
>> sorry about that. We are very grateful for your statements of support and for the action of support and we do think that, you know, we appreciate the recognition of the -- both the good citizenship that seton showed by agreeing to pay the fee as well as we are grateful for the comments you've made about the work we're doing in the community and we would gratefully express our thanks for your waiver of the fee by letter and by other actions to make sure folks are aware the support that the Commissioners have given us in this respect.
>> is it possible we can get credit for like an in-kind contribution since there's not going to be any kind of paper exchanging, but to get some kind of credit because it is a six-figure amount that is not a small thing and, you know, we would like to -- like others that are in this community doing their share for the thing to get credit for -- call it an in-kind contribution.
>> we can certainly -- I'm not enough of a tax lawyer to tell you that that would fly, but we work with folks at deloitte deloitte & touche and would talk about that if that's possible.
>> I'm sure you are going to be receiving things out of the hospital in that there's no exchange of money, it's just giving credit for other contributions in lieu of money.
>> absolutely.
>> I think we ought to word the letter as we think appropriate, send it, and if there are issues with it let us know.
>> appreciate the cooperation.
>> any more discussion? All in favor? Commissioner Davis abstains and the rest of the court votes in favor of the motion for the waiver and the letter indicating the reasons. Thank you all very much.
>> thank you, judge, thank you, Commissioners.
>> submit the disclosure statement to the clerk. She has that in writing.
>> okay.
>> thank you all very much.
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Last Modified:
Wednesday, October 4, 2006 4:29 PM