More to the bond story

With the story about us spending $22 million more for the ball park bonds because city council decided to hold off selling them until after their election we seem to have forgotten just how bad the bond situation is.

 

2013aTaxExemptBonds

According to this chart the city does not expect to pay any principal at all until August of 2023.  At that point they show a $17.6 million balloon payment.

Please don’t think that we are only facing $45 million in debt on these bonds.  They also sold ones that are not tax exempt and account for another $15.6 million.

2013bTaxableBonds

We deserve better

Brutus

4 Responses to More to the bond story

  1. […] elpasospeak.com did a nice write up on how the city bonds are being paid down in their article “More to the bond story“. […]

    Like

  2. Anonymous says:

    We’re going to start paying principal on the new ballpark in year 10 of its existence. We only used Cohen for 23 years.

    Like

  3. Fed Up says:

    The old “shell game” of the West is alive and well in El Paso city and county government!!!

    Like

  4. Just Ask Stockton says:

    El Paso has been following the Stockton, California road map to binge spending and bankruptcy. It’s not a matter of if, but when.

    Like

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