PASCAGOULA — Jackson County supervisors have agreed to help Singing River Health System borrow $2.3 million more on a “limited basis.” The Board of Supervisors on Monday agreed to a “letter of credit” as it was proposed by Billy Guice, board attorney on SRHS issues. Guice said the move would allow money to be set aside to secure future payments to the Workman’s Compensation fund. It would increase the amount the hospital has now, which is a $500,000 bond.
“This is necessary to continue self-insurance,” Guice told the board.
He called it an electronic sequestration of the $2.3 million that is expected to cost the county $30,000.