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Board approves $500,000 loan to Southern Inyo Healthcare District; hospital leader says bankruptcy resolution rescinded
Summary
The board approved loan documents for a $500,000 loan to Southern Inyo Healthcare District. Dr. Flanagan told supervisors the hospital has rescinded a prior bankruptcy authorization, paid down about $1 million in arrears and expects an insurance supplemental payment that will help cash flow into December.
Danelle Carrington, assistant county administrative officer, presented a proposed loan of $500,000 to Southern Inyo Healthcare District and introduced Dr. Flanagan and Amy Shepherd to answer questions. Dr. Flanagan told the board the hospital’s board rescinded a previous resolution that would have…
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