Ballpark bonds to be discussed
El Paso, Texas (KTSM) — A public meeting is set to discuss details of the sale of ball park bonds. As we've reported work is underway to get the ballpark completed for play in 2014. City council approved parameters on May 28th to allow city staff to sell bonds. Since then the interest rates to sell bonds have risen more than 1.25 percent. Due to changes in the market, staff will need to request additional parameters to assist in selling the bonds.
That public meeting is Thursday, August 1 at 1:00pm in city council chambers. The meeting will focus on existing parameters of the sale of ballpark bonds. City officials say that any debt incurred by the ballpark may not be paid with property taxes. The actions taken at the meeting will not affect El Paso citizen's property taxes.