Franklin Hospital Board Passes Tax Levy Ordinance

(BENTON, IL) — To prevent itself from going into the red with its cash flow, the Franklin Hospital Board Tuesday passed a tax levy ordinance that will raise property taxes to 4.9 percent. Officials say if they made it 5 percent, then a public hearing is required. The state already owes the hospital $1.2 million dollars, and hospital officials say their cash flow will be in the red if the state doesn’t provide those funds to them in the next six months. The Southern Illinoisan reports now that the ordinance has been approved, the board entered into a tax anticipation warrant, also known as a short-term debt obligation, with People’s National Bank at an interest rate of 4.5 percent. Money from this will be set aside in order to stay current with some of the hospital’s vendors.