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We are the only media source that reports the total debt of our local taxing entities.
On March 28 we shared statistics from the Texas Bond Review Board showing that the total principal and interest owed by all taxing entities within El Paso County, including the nine school districts, stood at $10,304,259,673.
Since that time, the figure has dropped to $10,009,329,565, a decrease of $294,930,108 or 2.86%. That is because there have been no major debt issues, with the exception of Canutillo ISD.
In fact, Canutillo ISD was the only taxing entity in the last 10 months to increase its debt load, which shot up from $100,621,365 to $297,037,913, thanks to the bloated $387 million GO bond approved by the voters in May.
CITY, COUNTY, AND UMC DEBT TO EXPLODE
Of course, the nearly $295 million decrease in our total community debt is only temporary. In November, the voters approved $551,025,000 in general obligation bonds: $396,600,000 for University Medical Center and $155,025,000 for County infrastructure and pork spending. That debt will be issued over the next several fiscal years.
In addition, the City must issue about $472 million between now and FY 2029 because of the voter-approved Public Safety Bond of 2019 and Community Progress Bond of 2022. That figure would have been $600 million but thankfully the cancellation of the downtown MPC reduced it by $128 million.
Thus, the City, County, and UMC will issue about $1 billion in debt over the next several years so that our total community debt, with principal and interest, will exceed $11.5 billion, about $13,200 for every man, woman, and child.
Don’t look to the latest crop of City or County leaders to do anything other than borrow and spend more.
CURRENT PRINCIPAL & INTEREST FOR ALL DEBT WITHIN EL PASO COUNTY
City of El Paso, including water and sewage, $4,427,046,090
Ysleta ISD, $1,583,163,056
EPISD, $1,359,117,292
Socorro ISD, $1,114,201,052
El Paso County Hospital District, $496,750,931
Canutillo ISD, $297,037,913
El Paso County, $281,535,760
Clint ISD, $191,815,189
EPCC, $164,215,001
San Elizario ISD, $34,747,679
Fabens ISD, $25,856,531
Tornillo ISD, $17,232,362
El Paso County WCI District 4, $10,175,889
Anthony ISD, $3,036,731
El Paso WID – Tornillo, $2,846,512
El Paso County 911 District, $551,577
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