Marietta, Ga.-based WellStar Health System is set to receive $275 million in revenue anticipation certificates from the Cobb County Kennestone Hospital Authority, AJC.com reports.
The Cobb County Board of Commissioners approved the resolution Tuesday. The authority intends to allocate the funds toward the acquisition and construction of Marietta-based WellStar Kennestone Hospital. The certificates will also refund the authority's revenue anticipation certificates Subseries 2005A and Subseries 2005B bonds and pay the costs of issuing the Series 2017 Certificates.
The county's approval, while required, does not mandate the state or county pay the certificates, the report states.