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Salem council approves up to $120 million in revenue bonds for Shepherd of the Valley project
Summary
The Salem City Council passed an ordinance authorizing issuance of hospital facility revenue bonds of up to $120 million for the Shepherd of the Valley obligated group, with an emergency clause and unanimous vote.
Salem City Council on Oct. 21 unanimously approved an ordinance authorizing the issuance of hospital facility revenue bonds of up to $120,000,000 for the Shepherd of the Valley obligated group.
The ordinance, read into the record and passed with the emergency clause, authorizes the city to execute leases, subleases, trust indentures and other documents necessary to issue revenue bonds to support the Shepherd of the Valley project.…
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