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El Paso County approves up to $54 million in certificates of obligation to fund roads, water and HVAC projects
Summary
County commissioners authorized issuance of up to $54 million in certificates of obligation to pay for road repairs, stormwater work and first-time water/wastewater connections; staff said timing and retiring older debt keeps the county’s debt-service tax rate steady.
El Paso County commissioners voted May 12 to authorize issuance of up to $54 million in certificates of obligation to fund road improvements, flood-control work and first-time water and sewer connections, and to modernize HVAC at a youth services center.
County officials said the issuance was structured so it would not raise the county’s debt-service tax rate. Danielle Chavez, capital planning, told the commissioners the move leverages expiring debt and timing to “issue new debt in a structured and responsible manner as older debt is being paid off.”
The certificates would pay for a package of projects highlighted during the…
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