The Monroeville Finance Authority will give final approval on the motion today, which also includes another $210 million to cover some of UPMC’s prior debt, according to a Pittsburgh Tribune-Review report.
UPMC also held a mandatory meeting at the UPMC East site to issue bonds through the Public Finance Authority, a Madison, Wis.-based firm that can sell municipal bonds on behalf of non-profit organizations.
Critics of the approval said UPMC is “hedging their bets” and are avoiding $2 million in taxes, according to the report. UPMC could not be reached for comment.
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