EL PASO, Texas (KTSM) – The El Paso City Council is scheduled to discuss whether to issue up to $96 million in certificates of obligation for various projects on Tuesday.
The item posted to the City Council’s agenda next week says the governing body will consider adopting a resolution with an intention of issuing the non-voter approved debt.
City documents show the funds would be used to pay for streets, facilities, the proposed Mexican American Cultural Center, and parks among other municipal reasons. If approved, the city will need to post a notice of the intention to issue the debt for at least 45 days.
An ordinance will then be introduced to the council for a vote.
The council approved issuance of $93 million in certificates of obligation earlier this year. Much of the council’s reason was to finance various capital improvement projects and quality of life initiatives.