El Paso County staff outline $52 million certificate of obligation plan to fund water, sewer and storm projects

El Paso County officials on Thursday presented a staff plan to issue up to $52 million in certificates of obligation (COs) in 2025 to finance water, sewer, stormwater and road projects they said are “shovel ready.”

The presentation by Jose Hernandez, strategic capital development staff, laid out a 30‑year debt structure with an estimated interest rate “a little over 4½ percent” and total projected debt service of about $92 million. Hernandez said the proposed structure would use the county’s 5¢ debt service tax rate capacity and would be issued as tax‑exempt debt because there is no private use tied to the projects.

County staff said the $52 million cap reflects a scenario that anticipates leveraging interest buydowns and loans if available from the Texas Water Development Board and the Texas Department of Transportation (TxDOT) State Infrastructure Bank (SIB). Staff noted an $18.5 million carryover for two stormwater projects on Road and First Avenue already directed by the court, which reduces the remaining borrowing capacity; the proposals under consideration include about $33.5 million for first‑time water and sewer connections and fire hydrants in multiple unincorporated neighborhoods.

Hernandez told the…