BJC Medical Center’s request for a financial bailout from the Jackson County Board of Commissioners was tabled Monday night. The BOC postponed taking action at its meeting and didn’t give a date as to when the matter might again be on the agenda.
At a BOC meeting three weeks ago, Rick Massey, a member of the BJC Medical Center Authority, asked the county to guarantee — and also repay — 75 percent of a $5.2 million loan, as well as guarantee 75 percent of a $1 million line of credit.
The request by BJC is to consolidate approximately $1.5 million in debt on hospital bonds with $2.5 million in short-term debt and $1.2 million of accounts payable. The requested amounts calls for an additional $3.7 million in support from both Jackson and Banks counties.
The authority made a similar request — for the other 25 percent of support — from the Banks County Board of Commissioners. The Banks BOC did not take action on the request. Financial obligations related to the medical center have always been split on a 75:25 percent ratio between Jackson and Banks counties.
Currently, Jackson County makes the $153,655 annual payment for hospital bonds. If the BOC grants the authority’s request, its payment would go to $382,395. The duration of the agreement is for 15 years.
For more details on this issue, see the May 20 edition of The Jackson Herald.