County Commissioners to Issue More Debt for the County

Last week the County Commissioners met to discuss issuing $7 million in certificates to cover aging infrastructure.  Just to be clear, the certificates of obligation issues in 2012 were specifically to cover infrastructure and, according to the El Paso Times, “Escobar said the money left over from the 2012 certificates of obligation will help address some of the needs.” However, this left-over money isn’t enough.  So, the County Commissioners are looking to issue a certificate of obligation, ” A certificate of obligation is debt issued without voters’ approval.”  The County Commissioners are patting themselves on the back because issuing this debt won’t raise the tax rate because it is “equivalent to what the county refinanced and paid off earlier this year.”  Doesn’t that make you feel better?  They managed to pay down some of the BILLION dollars in debt burdening the  El Paso taxpayers and now want to take that money out again so that they could spend it.

The County Commissioners are going to spin this as a good thing – they are able to fix and improve things without raising your property taxes!  Yeah, you’re still paying and, as they issue more debt, you’ll be paying for a long time to come.

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2 thoughts on “County Commissioners to Issue More Debt for the County

  1. Need to go back and look at the county books. The County had debt of a little over 206 million dollars last reported in 2015 budget. The City of El Paso are the ones that have billions in debt. Nope it’s not right that the county is taking on more debt. If the CCC would have watched their spending and paid attention to over sight of projects that ran out of control they would have no need to take on more debt. In addition taking on projects that where just stupid. Still trying to figure out the thinking in spending 9 million dollar for software for a antiquated main frame computer from the 1980’s which makes no sense. Talk to some real computer engineers on that and all said it was total stupidity and a waste of tax payer dollars and the claims of making the county’s computers system more efficient would save money was BS to what it cost for the software. Hey in this case just follow the money trail and who was involved with this non- sense.

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