A successful petition drive thwarted plans by the El Paso County Hospital District, Texas, to issue $345.7 million of certificates of obligation to finance expansion projects at its University Medical Center and Children’s Hospital, The Bond Buyer reports.
County commissioners were unable to vote on the debt issuance after announcing that the submitted petition contained a sufficient number of valid signatures, the district said in a statement.
The Libre Initiative, a Latino advocacy group, said it collected more than 25,000 signatures to require voter approval of the debt.
