POCAHONTAS, Ark. (AP) — Pocahontas is moving to complete its purchase of the Five Rivers Medical Center from a local authority.
The city council on Friday approved a measure to allow the city to put together a deal with a Little Rock bond company.
The city also has been tentatively approved to receive $7 million in loans from the U.S. Department of Agriculture to buy the property and equipment from the city's Public Building Authority.
The city took over Randolph County's only hospital more than two years ago, but officials couldn't put a financial package together quickly enough to buy the property. An authority was established, and the city then leased the building from it.
Pocahontas officials are hopeful the transaction will be completed by mid-December.
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Information from: The Jonesboro Sun, http://www.jonesborosun.com
The city council on Friday approved a measure to allow the city to put together a deal with a Little Rock bond company.
The city also has been tentatively approved to receive $7 million in loans from the U.S. Department of Agriculture to buy the property and equipment from the city's Public Building Authority.
The city took over Randolph County's only hospital more than two years ago, but officials couldn't put a financial package together quickly enough to buy the property. An authority was established, and the city then leased the building from it.
Pocahontas officials are hopeful the transaction will be completed by mid-December.
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Information from: The Jonesboro Sun, http://www.jonesborosun.com
