AB 582, by Assemblyman
The refinancing would also free up to
If signed into law, the measure puts bondholders at the head of the line in bankruptcy proceedings, which Levine's office said is a necessary step for refinancing. The district requested the change.
The district, which closed the hospital
Levine said the bond relief would give the district more flexibility in its efforts to bring back lost health care services.
"It is my hope that the hospital find a means to reopen and serve west county," Levine said in a statement. "The cost savings achieved by AB 582 will help make that a reality."
The negotiations have at times become strained. The foundation has accused the district of not negotiating in good faith, while the district has argued the foundation's plan has too many holes in it.
The foundation has scheduled a public meeting on
The meeting will be held at
The governor has 12 days to act on AB 582.
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