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