Apparently, the IPF is being built on a 'cash' (all paid for upfront) basis with operating costs each year coming out of I don't know what (ongoing fees? return and/or paydown from a standing endowment...or a to be built endownment?).
How much would expansion cost? It could be built like, I think (?), the Convo was/is:
Borrowing (issuance of bonds) with interest and principal paid each year for so many years. Somewhat similar to how must people buy a house...via a mortgage, that is by paying off a bit of prinicpal and interest each year over a long number of years.
So, such bond/mortgage financing means that we don't need to have the full cost of expansion in hand on day one.
Of course, there needs to be ability to pay on the bonds/mortgage and to pay the ongoing operating costs.
By the way, is the Convo paid off yet?
Last Edited: 9/4/2012 12:46:41 AM by Monroe Slavin