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Wednesday, August 20, 2014

City restores $2M to fund from hospital sale

The Oxford Board of Aldermen voted Tuesday morning to keep intact the $30 million it is getting as its share of the sale of the hospital building to Baptist Memorial Health Care Corps. The board had voted last week to set aside $2 million of the $30 million to use to fund some immediate community needs and invest the remaining $28 million to use for long-term needs. However, at a meeting today, the board reversed itself and voted to restore the $2 million back into the investment pot, so the city has a total of $30 million to invest. The board took the action after Mayor Pat Patterson threatened to veto the effort to use $2 million for community needs. The sale of the hospital is expected to close  Thursday. (August 16, 2011)

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