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Council okays second reading to let hospital pledge revenues for up to $120M in bonds
Summary
On second reading Sept. 9, Beaufort County approved an ordinance authorizing Beaufort County Memorial Hospital to pledge revenues for health care revenue bonds (Series 2024) in an aggregate principal amount not exceeding $120,000,000; the motion passed without public objection.
Beaufort County Council on Sept. 9 approved, on public hearing and second reading, an ordinance authorizing Beaufort County Memorial Hospital to pledge revenues in connection with the South Carolina Jobs Economic Development Authority issuance of health care revenue bonds (Series 2024) in an aggregate principal amount not to exceed $120,000,000.
Miss Howard moved the ordinance; Council Member Glover seconded. The council opened the public hearing and, seeing no public comments, closed the public portion and approved the second reading without objection.
What this authorizes: The ordinance permits proper officers to take necessary actions related to the proposed bond issuance and related matters; the transcript records the ordinance language and the aggregate principal amount cap of $120,000,000. No further details on interest rates, bond structure, or repayment sources were included in the public segments.
Next steps: The ordinance was approved on its second reading; any additional required readings, administrative approvals or closing steps were not detailed in the recorded public discussion.
