Not a pretty picture

For those interested in the particulars about our city’s debt the city has reported that as of January 31, 2017 we owe one billion, two hundred ninety three million, thirty thousand dollars ($1,293,030,000) in general obligation debt.

We also owe:

$665,715,000 in water and sewer revenue bonds

$  16,330,000 in airport revenue bonds

$  96,607,000 in municipal drainage utility system bonds

$  60,995,000 in ball park revenue bonds

That adds up to another $839,647,000 for a total of $2,132,677,000.

Payments on the $1.29 billion in general obligation debt are about $103,578,000 per year.

They reported property tax receipts at $153,490,605 for 2016.

We deserve better

Brutus

 

 

10 Responses to Not a pretty picture

  1. […] in debt, and we’re in deep, as highlighted by Brutus over at ElPasoSpeak, here, and here, and […]

    Like

  2. Beto Moore says:

    PLAY BALL!

    Like

  3. M.T. Cicero says:

    Are any of our council aware of this? How can they spend another nickel? We are in real deep trouble by these estimates.

    Like

  4. Rye Winterweet says:

    This is why I voted for Cager. Anyone but everyone else. How can we be taken seriously with this debt? Might as well be Cager.

    Like

  5. follow the money says:

    but,but, but, the Ball Park will save us.

    Like

  6. Anonymous says:

    Well, now, let’s not forget bicycle lanes no one uses and city owned bikes no one rides. And remember, we still got to build a new city hall made out of polished marble to replace the one torn down for the stupid baseball field, Oh, and the idiotic streetcars that don’t g
    o anywhere!

    Like

  7. Haiduc says:

    Good Grief ! This is messed up…

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  8. Let’s build a stupid arena downtown that will remain empty more than occupied, and add zero to our tax revenue! Let’s let Cohen Stadium remain largely unused as it continues to deteriorate, until we finally give it away to some developer! And, let’s not forget to continue to ignore the sorry state of our streets, that increase the cost of using our cars and add to the cost of city owned transportation, and that add nothing to attract new business.

    Like

  9. Anon says:

    Let’s hand out more tax breaks to hotels and shopping malls!

    Like

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