The California Health Facilities Financing Authority granted the Downey Regional Medical-Center Hospital permission at its Sept. 29 board meeting to proceed with negotiations to sell its outstanding bonds to a private purchaser to enable it to exit bankruptcy in mid-November.

In 1993, Downey Hospital, a 199-bed nonprofit full-service hospital located in Los Angeles County, issued $68.8 million of revenue bonds through the CHFFA, according to authority documents. Of that, $16.4 million are currently outstanding.

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