New Hanover Regional Medical Center receives tax exempt bonds

Despite the negative rumblings on Wall Street, New Hanover Regional Medical Center is still tapping into the bond market.

New Hanover County commissioners have approved New Hanover Regional Medical Center to receive $40 million in tax exempt bonds.

The bonds will be used to reimburse money the hospital has already spent on construction. It was a decision the commissioners felt important to pass.

Bobby Greer, New Hanover County Commissioner Chair said, “I just think we have a great hospital and unfortunately those things cost a lot of money to keep going and new equipment and that’s the purpose of this, to make sure that we have a good hospital to serve the needs of our citizens.”

The bond debt will eventually be paid off by the revenue the hospital makes.