Council Closed Session is Over, Hospital looks grim if no minority vote for $5.5 million bond
A few minutes before 10 pm and closed session is finally ended. The mayor could be seen very animated from outside chambers making an impassioned plea to support the bond ordinance and give the hospital a chance to survive by having a reasonable deal for bankruptcy court.
Council majority looks pessimistic. Some show signs of stress.
In the hallway, three hospital employees were being told by Councilman Michael Russo’s mother, Michele, that the deal is dead and “why should we give them the money, they’ll just close it anyway.”
The poor hospital employees looked frightened but would not voice disagreement. Yet for a deal that is “dead” they waited like everyone else to come in and see the meeting firsthand.
The mayor denies the hospital deal is dead and states her hope it will get $5.5 million in a bond ordinance to “bring the deal to fruition.”
The hospital gets to tomorrow only with the bond ordinance.
The mayor describes the deal as “imperfect” but “better than the alternative” with an October closure.
The city’s bankruptcy attorney Paul Hollenbeck says an agreement must be made with the creditors. He adds the city would have to satisfy the $52 million bond and risks to raise funds to pay it. He urges the Council to move ahead and give the City the chance to try to reach a settlement with creditors tomorrow and avoid many other costs associated with shutting down the hospital.
– Posted at full gallop