Golden anniversary

TGMC leads the way in technology

TGMC in the forefront of patient care

A special word of thanks

Financial responsibility: Hallmark of TGMC’s history

Honoring Chiefs of Staff

A salute to our medical staff

TGMC earns distinction as an Employer of Choice

Financial responsibility: Another
important hallmark of TGMC’s history

In addition to its tradition of providing excellent patient care, Terrebonne General Medical Center (TGMC) is proud of its long history of fiscal stewardship. In fact, taxpayers have not had to support TGMC through a sales tax in nearly two decades.

In 1981, Hospital Service District No. 1 of the Parish of Terrebonne and the Police Jury agreed to separately issue bonds for the construction of a new hospital to replace the 26-year-old Terrebonne General Hospital.

Subsequently, the parish issued Public Hospital Bonds in the amount of $20 million. The bonds were secured by a pledge of the Police Jury’s portion of a parishwide, 1-percent sales tax that had been levied in 1964 and a 0.25-percent sales tax levied in 1979.

The Hospital Service District then issued a series of bonds in the amount of $27.3 million.

The parish bonds were retired in 1985 by part of the proceeds from the $42.6 million Hospital Revenue Refunding Bonds. As shown in the “Act of Sale and Transfer,” this action allowed the parish to rededicate the sales tax funds to other improvement projects in the community.

Since then, no parish taxes have been generated or pledged for the purposes of underwriting the operations of TGMC. All financial obligations of The Hospital Service District have been met from revenues generated from TGMC and Hospital Service District
properties.

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