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Tomorrow the County Commissioners Court plans to authorize a general obligation bond in the amount of $323,796,000, which will be divided into five ballot propositions and placed before the voters on November 5. These are:
A. Parks & Recreation $95,615,000
B. Office of the Medical Examiner $26,700,000
C. Courthouse, Subcourthouses, & Related Annexes $63,285,000
D. County Coliseum $105,485,000
E. Animal Shelter $32,710,000
Up to $125 million of this debt would be issued in FY 2025, with the balance issued in $FY 2027.
In addition, they will vote on moving forward with a UMC bond in the amount of $396,600,000, also to be placed on the November 5 ballot.
In addition, the County is planning to issue a certificate of obligation of approximately $174,000,000, the largest in the history of our community, which they will probably authorize before the election.
Thus, the County has plans to authorize more than $894,000,000 in new debt, which will cost El Pasoans more than $1.6 billion in principal and interest over the next three decades, more than triple the County’s debt servicing burden, and sharply increase our property tax.
COMMISSIONER HOLGUIN’S SOLUTION
Meanwhile, Commissioner Iliana Holguin, the only member of the County Commissioners Court who is concerned about the plight of the taxpayers, believes the County should limit itself to a single general obligation bond of $175 million and that there should be no CO issuance at all. Her plan would not raise our taxes while taking care of the County’s most urgent needs.
As for the UMC bond, it includes critical care for cancer and burns and other projects that are a matter of life and death, especially for the uninsured. This time, UMC is approaching the community for permission to issue debt rather than going for a CO as they did in 2022. That plan went down in flames when the Libre Initiative led a successful petition drive to ram a $346 million CO down our throats. They seem to have learned their lesson.
If the County moves forward with its plan to place $323,796,000 on the ballot next to UMC’s $396,600,000, there is a very high chance that all the bonds will fail because of the anger and frustration of the voters with their property tax.
If, however, the County follows Holguin’s sage advice and asks for only $175 million alongside UMC’s $396,600,000, the County would not be raising taxes and there would be a far better chance the voters would approve UMC’s critical funding.
One thing is for certain.
If the County Commissioners Court proceeds with issuing or granting permission to issue $894.4M in debt before the end of next fiscal quarter, they will not only spark a taxpayer revolt against their CO and risk that UMC will lose its bond election and, but none of those who vote to place this debt burden on our backs will be reelected to office, as sure as the sun rises at dawn.
CONTACT THE COUNTY COMMISSIONERS COURT!
Please write to the El Paso County Commissioners Court and ask them to support Commissioner Holguin’s proposal to limit the County’s total debt issuance to $175 million:
countyjudge@epcounty.com; commissioner1@epcounty.com; commissioner2@epcounty.com; commissioner3@epcounty.com; commissioner4@epcounty.com
The instructions for commenting publicly on these debt issuances are at the top of the County agenda for August 12. The proposed UMC bond will be discussed under item 7A and the County bond will be discussed under item 10C.
It is best to appear in person but you can call in as well.
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