Quorum Court OKs sending Arkansas Children’s Hospital refinancing resolution to full court

Pulaski County’s Quorum Court voted to send Resolution 26I22 — a supplemental lease agreement with Arkansas Children’s Hospital — to the full court with a recommended do-pass. Attorney Michael Moyers, representing the hospital, told the court the transaction is refinancing for debt-service savings and is not new money.

Moyers said the lease supplement is the vehicle used for bond issues on the hospital’s Little Rock campus and that Pulaski County is not financially obligated. “What we’re proposing tonight is ... a refinancing bond issue for debt service savings,” he said. “The county does not have a financial obligation with respect to this. It’s not an encumbrance against the general fund or any other funds of Pulaski County.”

Justice Massey moved the item to the full court with a recommended do-pass, and the roll call showed 15 ayes. Several justices added their names as sponsors after the motion was recorded. Moyers noted representatives from Arkansas Children’s Hospital were present and available to answer questions.

The resolution, as described to the court, would allow the hospital to refinance existing debt to lower costs; Moyers said the county’s role would be limited to the lease-framework and that the county’s general fund would not be on the hook for the bonds. The item will next appear on the full quorum-court agenda for final consideration.