Hospital Authority Approves Resolutions for Palmyra Purchase

Press release from the issuing company

Wednesday, February 2nd, 2011

At the Hospital Authority of Albany-Dougherty County's meeting this morning, five resolutions were adopted relating to the asset purchase agreement for Palmyra Medical Center.

The resolutions give detail as to how the transaction will be carried out as the entities involved move toward closing, now set for March 1.

The most lengthy of the resolutions calls for Phoebe Putney Health System to transfer to the authority $100,000,000 as a loan to be repaid by the sale of the authority's tax exempt bonds.

Read more: Albany Herald