EPISD–expensive borrowing

EPISD wants to issue Maintenance Tax Notes in the amount of $17,500,000 to perform repairs on El Paso High School.

Don’t worry you won’t have to vote on this, the board will just issue the notes and send you the bill.

The chart below shows that the district does not intend to pay down any of the principal for another ten years:

Try that with your banker.

Failure to schedule principal payments for the first ten years will cost us over $6 million.

We deserve better

Brutus

 

7 Responses to EPISD–expensive borrowing

  1. Anonymous says:

    All the campus neglect over the decades resulted in the recent tremendous bond for a district experiencing year-over-year shrinking-attendance.

    Wait until you see the annual maintenance costs of the new buildings constructed under the bonds. I estimate annual maintenance to be around 12% the cost of the buildings. I am sure we are all eagerly anticipating the creative ways that will be used to increase taxes to cover the new maintenance costs.

    For decades, instead of maintaining the school buildings and equipment, local school districts converted that money into raises for people who did such a poor job teaching our children that we rate lower than third-world countries in the education level of graduating students.

    The public sector is the only sector that so grandly rewards failure, and they make the taxpayers foot the bill. The school districts have the same problem city council does, they spend money inappropriately and then have to borrow money to cover necessary costs. The cost of borrowing, over time, begins to consume the incoming dollars to the point where they have to become “creative” just to pay for things that do not really benefit anyone and that they actually had money to do years before.

    This all boils down to poor decision making, the politics of getting elected, and teacher unions who long ago abandoned any pretense of education.

    Like

    • Mo Anonymous says:

      “The public sector is the only sector that so grandly rewards failure, and they make the taxpayers foot the bill.”?

      The list is long of executives who have bankrupted companies and been bailed out by taxpayers while being personally rewarded with millions of dollars. Mitt Romney is just one example.

      Like

  2. Anon says:

    “The public sector is the only sector that so grandly rewards failure.” How many CEO’s have walked away with a golden parachute worth millions after from running their companies into the ground? How many lawyers walk away with millions whether their clients wins or loses?

    It isn’t just the public sector, it is everywhere.

    Like

    • Ticked off taxpayer says:

      The difference is that when a CEO runs a private company into the ground, the company ceases to exist and that CEO’s future employment opportunities may be limited. In the public sector, incompetent leaders just raise taxes and keep spending money. El Paso is a classic example. Q of L was sold as a business attractor. After 10 years when that wasn’t happening, suddenly we need to become a tourist Mecca. When we discover the wealthy of Chihuahua still file flight plans to Dallas and LA for shop and play weekends, we’ll come up with another pipe dream. In the meantime, hardworking El Pasoans will see more and more money go to taxes. And the reality isn’t that the average El Pasoan thinks things are good. They are just believing the lies that being told by our local politicians.

      Like

      • Anonymous says:

        Exactly right. The politicians. Public Officials “Policy” in El Taxo, is to lie, deny, deceive, cover up when dealing with US “Stupid, ignorant peons”. The local Politicians, Margo, Clown Council, Public Officials like Juan Cabera, Tommy Gonzalez, the idle rich that THEY all REPRESENT, are just here for the money, whatever THEY can TAKE from US. El Taxo is a gas stop on the Interstate, going East or West, to SOME WHERE else. A $400-600 a day water park? Really? Who is going to, can AFFORD to blow their vacation, travel budget for a NIGHT in El Taxo? El Taxo is not, will never be the Tourista Attraction the CON artist, the corruption is selling the “Peons”. It’s all a CON game to steal, take advantage of the unsuspecting “Peons, who just pay and pay

        Like

      • Mo Anonymous says:

        “when a CEO runs a private company into the ground, the company ceases to exist and that CEO’s future employment opportunities may be limited.”

        Wrong again. You ever heard of GE? Plus, when a failed CEO exits with millions or even tens of millions of dollars in severance, he has plenty of options and opportunities.

        Like

  3. Anonymous says:

    Tax, waste, spend, tax some more, on the WORKING people, taxpayers of El Taxo. That’s just keeping Juan Cabrera RICH and being a blood sucking leech on the butts of El Pasoans. That’s just the blood sucking leeches, corrupt POLITICIANS of El Taxo. And when El Taxo declares BANKRUPTCY, Juan Cabrera and the other blood suckers will be heading out of town with suit cases full of money, MILLIONS$$$$ richer than when they came here to fleece US “stupid, ignorant peons”.

    Like

Leave a Reply -- you do not have to enter your email address

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: