Commission Denies Bonds to VBMC Hospital To Refinance Debt, Renovate and Expand

BY EMMA PEREZ-TREVIÑO The Brownsville Herald September 2, 2007 - 3:10PM

Valley Baptist Medical System felt the push of its peers this week when it was denied permission to secure bond money for improvements to its Brownsville hospital, via city-sanctioned financing. Valley Baptist asked the city to authorize the Brownsville Health Facilities Development Corp., a financing mechanism for nonprofits to expand and improve local health care. Valley Baptist sought to secure $94 million in bonds to refinance debt, renovate and expand the operating room, telemetry and surgical patient units at Valley Baptist Medical Center-Brownsville. Click Here for the Rest of the Story.