Trustees of University Health System in San Antonio voted last week to recommend a 2% increase in the property tax rate to help support $472 million of general obligation certificates of obligation sold by the Bexar County Hospital District in the past 12 months.

The hospital district raised the property tax rate by 9.9% last year to help finance a $900 million expansion effort. The higher rate was to provide sufficient revenue for debt service on a $290 million sale in September 2008 as well as last month's sale of $282 million.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.