Oroville (Calif.) Hospital has dropped a request to restructure $19.6 million in bonds that were going to be used for new medical equipment, software and a telephone system, the Enterprise-Record reported Oct. 10.
The $19.6 million in bonds were issued in 2018. In April, the hospital requested to restructure the bond, with $16 million remaining in its balance. The hospital was looking to add an additional $7 million to create a 2023 bond.
The $7 million would be used for diagnostic medical equipment and software upgrades.
The hospital gave no reason to the city why it no longer wanted to restructure the bond. The hospital is working on opening a delayed five-story tower project in November 2023.