Behind the Vote on Hoag Bonds
The coverage of the Newport Beach City Council’s approval of Hoag Hospital’s revenue bonds misses two key points (“Hospital to Get City Help on Bonds,” Oct. 14).
First, the story does not mention that the majority of the new debt refinances older debt at a lower rate, a prudent step in today’s high-cost health-care environment.
Second, it fails to point out that the three members voting no were actually voting against using Hoag’s $200,000 payment to the city for landscaping, not against the bond issue itself.
The council strongly supports the hospital, but its wiser members must also protest against irresponsible use of city funds.
B. NORRIS BATTIN, Newport Beach
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