Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Capital Financing topic
No spam. Unsubscribe anytime.
El Paso County votes to publish notice of intent to issue up to $54 million in certificates of obligation
Summary
Commissioners authorized publication of a notice of intent to issue up to $54 million in combination tax and surplus revenue certificates of obligation to fund roads, water and other infrastructure; court staff said the issuance is structured to avoid increasing the countyI&S tax rate.
El Paso County Commissioners Court voted Monday to publish a notice of intent to issue up to $54,000,000 in combination tax and surplus-revenue certificates of obligation to pay for street, utility and flood-control improvements and HVAC work at a youth services building.
County officials said the proposed issuance would fund several projects prioritized in county capital planning, including first-time water and wastewater connections in Hillcrest Estates and other unincorporated areas and certain roadway improvements. The court directed staff to publish the required notice this week and return on May 12 for further action on a possible sale.
The countys financial presentation estimated an interest rate for the planned offering near 4.74 percent, with total debt service of about $96.3 million and average annual debt service near $3.3 million. The administration told the court it structured prior issuances so the countys debt-service (I&S) tax-rate component would remain at roughly 5 cents per $100 valuation; county staff said the new certificates were intended to be funded within that same debt-service envelope to avoid increasing the countys I&S rate.
The list of projects attached to the court order included several water and wastewater projects: Hillcrest Estates (about 60 initial connections, roughly 197 residents), a Northwest-area sanitation/water project (about 400 sanitary connections and 15 first-time water connections, roughly 1,200 residents), plus scope for other utility improvements and street projects. The order also added Pelicano Drive between Loop 375 and Darrington Road to the list of eligible roadway improvements; the inclusion gives the court flexibility to direct funds there if it chooses but does not commit county funds to Pelicano automatically.
Commissioners also discussed timing and the procedural steps: publication of notice (to be run in the newspaper), a 45-day statutory period during which petitions may be filed, and a potential May 12 court action to authorize sale if no successful petition intervenes. The court carried the motion to publish the notice; the record shows a motion from Commissioner Coronado, second from Commissioner Butler, and the courts vote was announced as "motion carries." The judge and commissioners did not provide a roll-call tally in the public record.
Why it matters: County officials said the measure would accelerate long‑deferred water, wastewater and road projects in unincorporated neighborhoods and give staff public‑lawful authority to seek market pricing so the court can decide whether to proceed with a sale. Opponents during the meeting urged caution and recommended considering alternatives such as grants, federal funding or a smaller tax note to reduce risk.
The court asked staff to publish the notice later this week and to return with the sale authorization, financing detail and final bond documents on May 12, 2025.
