Astoria City Council members have voted unanimously to allow the city hospital authority to issue $8.5 million in revenue bonds.
On behalf of Columbia Memorial Hospital, CEO Terry Finklein said this request was a response to the favorable bond market, as well as the hospital's needs for operating capital.
Finklein said the hospital would use the bond proceeds for prospective acquisition of John Warren Field for expansion, capital improvements and for medical equipment. Talks continue with the Astoria School District about a location for a replacement field.
The City of Astoria, Oregon Hospital Facilities Authority, will issue $8.5 million in new bonds Monday or later.
The tax-exempt muncipal bonds are being issued through U.S. Bank/Piper Jaffray. For details, call (800) 444-1707.