It appears that the appointed board of managers of the El Paso Independent School District is trying to close the door on public input about the location of their new central office.
According to an article in the Times the managers recently voted to create a Texas Public Facility Corporation (PFC). The plan is that the PFC will issue up to $29 million of bonds to “pay for building new central offices in Northeast El Paso, off Trans Mountain Road and Kenworthy Street. ”
The district can do this without voter approval.
Fuzzy math again.
District staff has told us that the cost of the new central office will be about $40 million. Past experience leads us to doubt that the buildings can be built for $40 million, much less $29 million.
The Times article contained this quote: “I think this is the perfect way to finance this particular facility and even own it and still pay approximately what we’re paying now to lease this building,” Manager Ed Archuleta said.
The district is now paying $362,000 each year to the city to lease the land the current offices are on. If the bonds get sold and if they can get a 4% interest rate and if the bonds are issued at the maximum allowed period of 40 years the annual payment will be around $1.1 million.
Maybe the school district should conduct some math classes for the board.
Look for a tax increase to make up the shortfall.
Voter refusal
According to the Times article the voters can stop this with the signatures of 5% of the registered voters. I have not been able to verify this fact and would appreciate someone pointing me to the applicable law.
Bidding
The district’s stated reason for using this technique is that they are in a hurry. Lots of things happen when we hurry. Bidding will probably not be used. Texas Local Government Code Chapter 303 (the legislation that allows PFC’s) does not seem to require it.
These guys are making our former superintendent look like an amateur.
We deserve better
Brutus
Posted by Brutus 
elpasospeak 
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