El Paso County commissioners on Sept. 29 approved a resolution asking Mission Economic Development Corporation to issue up to $200 million in tax‑exempt revenue bonds to finance construction and equipment for Vinton Steel’s steelmaking facility in Vinton, Texas.

The court opened a required public hearing under Internal Revenue Code section 147(f) and heard company representatives and municipal advisers explain the program and its tax‑exempt eligibility. After the public comment period, Commissioner Sergio Coronado moved to adopt the resolution; Judge Ricardo Samaniego seconded and the motion carried.

Lee McCormick, municipal adviser with Community Development Associates, told the court these industrial revenue bonds (IRBs) are issued by development corporations and are not an obligation of the county. "There is no risk, no cost, and no liability to El Paso County with regards to the bond financing," McCormick said.

Company representatives described a planned investment in a modernized steelmaking facility and replacement of aging equipment. Masayo Kitarra, chairman of Vinton Steel, said the project represents a near‑$300 million commitment and would support continued operations and pollution‑control improvements at the plant.

The resolution the court adopted includes a request that the issuer exercise its powers within the county to enable issuance of solid‑waste‑disposal revenue bonds for the project, and the county’s approval specifically states that El Paso County will have no liability, financial obligation or responsibility for repayment of the bonds.

The vote followed the public hearing process the county requires for IRBs and the notice that was published Sept. 14. The commissioners did not authorize county debt or pledge any county revenues for the financing; the bonds would be paid by the private borrower under the loan agreement with the issuer.