Another $25 million will go to UMC

Wednesday, May 7, 2003 | 9:20 a.m.

The financially troubled University Medical Center will receive another $25 million from bonds to finance hospital improvements.

Clark County officials, however, said Tuesday the general obligation bonds would not put the hospital in further debt because they plan to refinance other existing bonds.

"What (the refinancing) will do is extend the number of years payments need to be made for an additional four years," said Susan Laveway, assistant finance director for the county.

UMC's budget shortfall was projected at $37 million in January and was growing by $2 million a month.

One of the key problems facing the hospital is the ratio of paying patients to uninsured patients. Officials have said the number of uninsured patients jumped 28 percent when thousands of Las Vegans were thrown out of work after the Sept. 11, 2001, terrorist attacks.

In March 2000, the county issued more than $56 million in bonds to fund improvements including an outpatient clinic, an adult emergency department and intensive care services, a parking garage and surgery center.

The additional $25 million would go to remaining projects that have yet to be completed including a new building, imaging services and maternal and infant care services.