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El Paso Water reports stormwater fund balance; board seeks clarity on MLK property ownership and repayment plan
Summary
El Paso Water presented fourth-quarter fiscal data for the 10% stormwater fund and board members pressed for clearer information on outstanding MLK property payments and final ownership.
El Paso Water presented the fourth-quarter fiscal report for the 10% stormwater (drainage) fund and answered questions about remaining payments on the MLK open-space property.
Jonathan Pershall, real estate manager at El Paso Water, told the Open Space Advisory Panel the fund balance as of Dec. 1, 2024, was $3,423,547. He said the 10% utility-fee allocation for the quarter was $955,921 and interest earnings were $39,607. Pershall reported total fourth-quarter expenses of $1,027,799, which included a $27,799 payment on a 2012 bond and a $1,000,000 payment labeled “MLK open space…
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