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Bonds: State, County & City
A new Oneida County hospital began with a Promise of Albany funding. Soon after a $300M Grant is revealed. Between the grant and C.O.N. language, funding would be provided by way of DASNY, who would sell bonds, i.e. $300M in NYS taxpayer debt. Funding, at both the county and city level, would be required to build a new hospital, most likely via bonds (taxpayer debt), so we are building our knowledge of bonds and our government's obligations. Also of interest is watching their proposed new hospital Budget.
Mohawk Valley Health System (MVHS)
MVHS has now taken-on serious New Debt For Downtown Hospital Concept, following the Funding story.
City of Utica
City of Utica bonds; past, present, and future obligations...
Sale Date: April 19, 2018 - City of Utica BAN, Series B, #3,150,000.00
Read Tracking Utica & Oneida County MOU / MOA For Garage, as we see the cost of a "Required" hospital parking garage placed onto taxpayers.
Oneida County
Oneida County bonds; past, present, and future obligations...
August 16, 2019 - Are Oneida County taxpeyers now backing an additional $150M to $300M for the hospital? Read MVHS receives tax exemption for downtown hospital bonds, as we hear..
"The Oneida County Local Development Corporation met Friday morning, and on the agenda was financing for the Mohawk Valley Health System’s downtown Hospital Project. MVHS sought to approve tax exempt bonds of $300 million, and a mortgage tax exemption if MVHS decides they need to take out a mortgage on the property. The OCLDC members approved the resolution unanimously."
May 15, 2019 - Per Fiscal Advisors, read the $28,940,000 Oneida County General Obligation Public Oblication (Serial) Bonds (PDF) document.
November 6, 2018 - Municipal Bonds reports on an Oneida County New York Taxable Recovery Zone Economic bond. For more details, read the following 113 pages:
New York State
State bonds; past, present, and future obligations...
May 29, 2019 - State spending up more than twice what Cuomo claims, watchdog finds. Where one reads...
Following a pattern set in last year's budget, the governor and the legislative leaders simply moved the disposition of this money—almost $1.7 billion—off the official budget ledgers.
April 5, 2017 - Cuomo reveals state funding for Upstate hospitals... $300M for new hospital approved. Where one may read...
“This is the announcement that we’ve been waiting for,” said President/CEO Scott Perra in a news release. “It has been quite the journey from the time Gov. (Andrew) Cuomo specifically cited our project in the 2015 State of the State address as part of his proposed $700 million to support Upstate New York hospitals.”
February 22, 2015 - Utica paper reports, $300M Would Put New Hospital Closer To Reality, as Albany pledges money for new hospital.
Muni Bond Headlines
October 24, 2020 - Should Congress destroy the municipal bond market?.
"Replacing the municipal bond market with Federal Reserve financing means eliminating an institution that has worked reasonably well for over 200 years."
You can help, please join us on Facebook #NoHospitalDowntown. Also consider adding your voice to Hundreds of People Saying, "No Hospital Downtown". Get to know BUD, that's the future of the Columbia Lafayette Neighborhood!
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