$300M MaineGeneral bond OK'ed
A $300 million bond issue to fund a new MaineGeneral hospital in Augusta has been approved.
Commissioners of the Maine Health and Higher Educational Facilities Authority voted 8-1 to approve the bond issue, with the tax-exempt bonds likely entering the market next week, according to the Kennebec Journal. Hospital spokeswoman Diane Peterson told the paper that hospital leaders are currently pitching the project to investors and expect the bonds to be sold by mid-August. Financing is one of the last steps for the 192-bed hospital, which the state approved in November and the city approved in April. The entire project, including financing, is estimated to cost $412 million and includes $10 million in improvements at MaineGeneral Medical Center's Thayer campus in Waterville.
The quasi-governmental authority issues tax-exempt bonds for nonprofit colleges, universities and health care facilities. Gov. Paul LePage previously turned down a bond request from MHHEFA, arguing that all bonds should go before state voters.
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