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Committee recommends preliminary $365 million revenue bond for Ascension hospitals; one commissioner objects
Summary
The committee recommended approval of a preliminary Health and Education Facilities Board revenue bond issuance not to exceed $365 million to finance projects for Tennessee Ascension hospitals. Representatives said the issuance is nonrecourse to the county; Commissioner Irvin questioned potential issuer liability and voted no on the motion.
The Rutherford County Budget, Finance and Investment Committee voted Oct. 9 to recommend a preliminary revenue bond issuance not to exceed $365 million for Tennessee Ascension hospitals through the Health and Education Facilities Board, with Rutherford County designated as the issuer for multiple participating counties.
Sumner Bolling, representing the Health and Education Facilities Board, told the committee the structure is a 501(c)(3)…
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