Present:

Director G. Holme Chairperson
Director L. Elliott Electoral Area A
Director E. Hamilton Electoral Area C
Director D. Haime Electoral Area D
Director J. McLean Electoral Area F
Director J. Stanhope Electoral Area G
Director R. Quittenton Electoral Area H
Director J. Macdonald City of Parksville
Director T. Westbroek Town of Qualicum Beach
Alternate
Director R. Cantelon City of Nanaimo
Director G. Korpan City of Nanaimo
Director T. Krall City of Nanaimo
Director L. McNabb City of Nanaimo
Director L. Sherry City of Nanaimo
Director B. Holdom City of Nanaimo

Also in Attendance:
K. Daniels Chief Administrative Officer
B. Lapham Gen. Mgr. of Development Services
C. Mason Gen. Mgr. of Corporate Services
N. Connelly Gen. Mgr. of Community Services
J. Finnie Gen. Mgr. of Development Services
M. Pearse Manager of Administrative Services

MINUTES

MOVED Director Sherry, SECONDED Director Krall, that the minutes of the regular Hospital Board meeting held December 11, 2001 be adopted.

CARRIED

HOSPITAL

Temporary Borrowing Resolution.

MOVED Director Westbroek, SECONDED Director Holdom, that:

WHEREAS pursuant to Section 31 of the Hospital District Act, the Board may by resolution, with the approval of the Minister or a person authorized by the Minister to act in his/her behalf, borrow for purposes other than capital expenditures by way of temporary loan such sums as the Board may deem necessary to meet current operating expenditures for the year, including the amounts required for principal and interest falling due within the year upon any debt of the Board;

AND WHEREAS pursuant to Section 25 of the Act, member municipalities and the Province are not required to make payment from taxation revenues of amounts requisitioned by a District until August 1^st of each year;

AND WHEREAS estimated debt retirement and bank interest charges in the amount of $2,000,000.00 must be paid before payment of such revenue is due;

NOW THEREFORE BE IT RESOLVED that the Board of the Nanaimo Regional Hospital District may borrow pursuant to Section 31 of the Hospital District Act, a sum not exceeding $2,000,000.00 in 2002 for the purpose of paying the above mentioned debt retirement and bank interest charges.

CARRIED

ADJOURNMENT

MOVED Director Sherry, SECONDED Director Westbroek, that this meeting terminate.
CARRIED

TIME: 7:32 PM