County financial advisers outline bond capacity and timelines; staff to hold capital planning workshop

El Paso County’s financial advisers presented a market update and debt-capacity scenarios on Jan. 13, outlining options for funding capital projects with a mix of tax notes, certificates of obligation and voter-authorized general-obligation bonds.

Brad Angst of Stifel Public Finance told the court municipal market interest rates have risen modestly since September but remain near long-run averages. He said rising jobs data and Federal Reserve messaging have reduced investor expectations for multiple rate cuts this year, which pushed some yields up 25–40 basis points since last fall.

Why it matters: The county is considering how to stage capital spending approved by voters and how to finance projects in the 5¢ "essential purpose" tax fund while maintaining capacity for future issuances. The court will need to align project schedules, grant applications and Texas Comptroller/CAD deadlines to avoid unused proceeds and to maximize savings.

Key numbers and options presented

- 5¢ essential-purpose fund: advisers estimated borrowing capacity of approximately $135–$175 million over the next three years, with ongoing capacity thereafter of roughly $70 million every two years depending on financing choices. -…