EL PASO, Texas (KTSM) — The El Paso County Commissioners Court voted to move ahead with issuing up to $54 million of certificates of obligation for infrastructure projects at its meeting on Monday, March 24.
County commissioners have approved a “notice of intent” for the certificates of obligation.
This move kicks off a state-mandated 45-day waiting period before the County may authorize their actual issuance.
Certificates of obligation are similar to bonds but do not require voter approval and are usually used for infrastructure and other requirements.
The County has said that these certificates of obligation will not impact tax rates.
The certificates of obligation will be used for clean drinking water and sewer services ($33.5 million); flood control ($2.5 million); roadway safety ($16 million); and air conditioning at the Family Youth Services Center ($2 million).
Next up, the county commissioners will consider the actual sale of the certificates of obligation on May 12.
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