How far in debt is El Paso? In the document titled “Current Outstanding Tax Supported Debt” that was last modified in January of this year, we discovered the following:
That is a HUGE number at the bottom. However, it doesn’t tell the entire story as the bonds that were issued for the El Paso Hospital district are not included in that. From the UMC budget that was approved by the County Commissioners just a few months ago, we found this about the bonds:
As you can see, UMC is planning on paying down the Bond for the El Paso Children’s Hospital (series 2008A) by $7.7 million in tax payer dollars this coming year. How would it be if they had an alternate revenue source, say approximately $6 million in rent money that wasn’t being used of anything, that would allow them to almost DOUBLE the amount they planned on paying down? Between the Hospital District and the City Bonds we’re already over a BILLION dollars in debt. Surely the County Commissioners and UMC could see their way to helping to pay down that debt with the rent money from the El Paso Children’s Hospital.
elpasospeak.com did a nice write up on how the city bonds are being paid down in their article “More to the bond story“.