DALLAS — The University of Texas System has approved building an $800 million hospital at its UT Southwestern Medical Center in Dallas that will be financed largely through revenue bonds.

Hoping to take advantage of low interest rates on municipal debt, the Board of Regents approved the plan Thursday. They intend to start construction next March and complete the project in September 2014. Regents are aiming for a fixed rate of less than 4% on the capital they borrow for the project.

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