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Emergency Services District No. 2 clears $7.58 million financing for new Socorro fire station and two trucks
Summary
The court approved ESD No. 2s plan to borrow roughly $7.58 million to build a Socorro fire station and buy two fire apparatus; financial adviser said the loan could add roughly one cent to the ESD tax rate at a 5.5% illustrative rate.
The El Paso County Commissioners Court on Monday approved a financing plan by Emergency Services District No. 2 to borrow approximately $7.58 million to build a new fire station in Socorro and purchase two fire trucks.
Financial advisor Ramon Tijerina (Tejedina Financial Advisors) presented the plan, saying the ESD had secured land and preliminary design funding and planned to bid the financing in April. Tijerina told the court the illustrative model assumed a 5.5 percent interest rate and estimated the combined principal and interest could translate to roughly a one‑cent increase in the districts interest-and-sinking tax rate; he said the district hoped market conditions would deliver a lower rate.
Chief Esparza, the districts fire chief, told commissioners the new station responds to rapid growth along Waco Tanks Road and adjacent industrial and residential development and will reduce response distances in the area. County officials noted the project also supports the districts efforts to meet Insurance Services Office (ISO) standards; additional stations and hydrants can improve ISO ratings, which in turn affect homeowners insurance premiums.
The court carried the financing plan on a motion from Commissioner Olguin and a second from Commissioner Coronado; the clerk announced "motion carries." The administration said the ESD board approved the plan and expected bids in April, with funds to be available soon after closing.
Why it matters: County and ESD officials said the station and vehicles are needed to keep pace with new warehouses and subdivisions in the Socorro area, reduce mutual‑aid strain on surrounding volunteer departments and improve fire protection. Officials also warned that equipment and apparatus costs are high and that delaying construction could increase overall project costs.
