Who needs facts?, we have the power

The board of managers of the El Paso Independent School District approved the creation of a public facility corporation that they will use to finance the new central office.

Creating the corporation allows the district to issue bond debt without seeking approval of the voters.

It is interesting to point out that the district did not issue a contract for design of the central office until January 8, 2015.  At this point they do not know what the facility will look like or what it will cost.

Will the board of managers sell bonds before they leave office after the May elections and before the cost of the facility is known?

We deserve better

Brutus

2 Responses to Who needs facts?, we have the power

  1. Jerry Kurtyka says:

    “Will the board of managers sell bonds before they leave office..?”
    ——————————————————————-
    Yes, if CF Jordan-Foster or Hunt is getting the construction work.

    Like

  2. Reality Checker says:

    My prediction is that they will quickly do a preliminary design and cost estimate similar to the way the ballpark process was handled. They will then issue bonds for that amount. The BOM will then leave office. The newly elected board will then discover that the original cost estimate was too low. As with the ballpark, we will then have to incur more debt to cover the true cost. Business as usual.

    If they knew they were going to have to vacate and demolish the current offices, it sort of makes you wonder why they spent thousands of dollars to remodel Cabrera’s office last year.

    Like

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