BayCare Health System has received a key approval to move forward with a $1.25 billion bond to fund capital projects and refund prior debt, according to The Tampa Bay Business Journal.
The Clearwater, Fla.-based system wants to use the bond to construct or renovate facilities in three Florida counties. Each county must approve the bond, according to the report. Hillsborough County has already approved it, and on April 7, Pinellas County commissioners gave their approval.
If Pasco County approves the bond, BayCare plans to use it to fund several projects, including a $215.9 million expansion for St. Anthony's Hospital in St. Petersburg; a $26.2 million renovation for Morton Plant Hospital in Clearwater; and equipment upgrades for Mease Countryside Hospital in Safety Harbor.
About $500 million would be used to reimburse BayCare for previous construction and renovation projects at several of its facilities in the state, the report said.
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