UMMC Okayed To Borrow $91M For New Expansion

JACKSON, MS (Ben Caxton) — The University of Mississippi Medical Center can borrow up to $91 million from outside sources to finance expansion of its children’s hospital. The hospital and education complex had asked the College Board for permission to borrow up to $132 million, but parent University of Mississippi will lend up to $40 million to the medical center from its own cash reserves instead of borrowing that money from a bank. Medical center officials hope to start construction later this year on a project that would more than double the space available in the hospital.

 

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