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El Paso County postpones vote on $54 million certificates of obligation after public pushback over cost, water projects
Summary
On March 17 the El Paso County Commissioner's Court postponed consideration of a notice of intent to issue up to $54 million in combination tax-and-surplus-revenue certificates of obligation after extended public comment raised concerns about taxpayer burden, distribution of benefits and the absence of the county judge.
The El Paso County Commissioner's Court on March 17 postponed consideration of a notice of intent to issue up to $54 million in combination tax-and-surplus-revenue certificates of obligation that county staff proposed to finance a package of street, utility, stormwater and HVAC projects.
County staff described the proposal as using retiring debt capacity to fund essential public‑purpose capital needs without increasing the county’s I&S tax rate; the financing plan estimated a roughly 4.74% interest assumption, about $3.3 million of annual debt service and approximately $96.3 million total debt service over a 30‑year maturity if the full $54 million were issued. Projects identified in staff…
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