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Socorro council directs staff to evaluate certificates of obligation to fund capital needs
Summary
Council directed staff to evaluate financing options, including issuing certificates of obligation (COs), to support an identified five‑year capital improvement plan estimated at about $25.7 million. Council said it seeks a cautious borrowing strategy to fund major street overlays, park improvements and other capital work.
The Socorro City Council voted Oct. 6 to direct city staff to evaluate financing options related to issuing certificates of obligation (COs) to support ongoing and future infrastructure and capital improvement needs.
Council discussion emphasized the city’s backlog of capital work — including large street overlays, park…
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