Paying on the never never

June 16, 2015

According to an article in the Times the other day our county hospital has only paid $5.7 million to reduce the principal on the $120 million in bonds issued in 2008.

That’s an average of $814,000 per year over the last 7 years.  At this rate it will take another 140 years to retire the bonds.

That obviously cannot be the plan.  They must be planning to increase the principal payments at some point.  The question is what that will do to our property taxes.

According to the article we have paid almost $42 million in interest and only about $6 million toward principal.

Commissioners court

We don’t get to elect the hospital board or the CEO of the hospital.

Our elected county commissioners court has responsibility for the hospital budget and bonded indebtedness.

They either have not been paying attention or they have decided to stick it to us in the future.

It looks like our only option here is at the voting booth.

We deserve better

Brutus

 

4 Comments | County Government, El Paso Times | Permalink
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Saved from nothing

June 8, 2015

A loyal reader pointed this situation out to me.

According to the Times our new city manager has saved us $3.5 million dollars through personnel cuts.

Good for him.  I mean it and thank him for his efforts.

Can’t wait

I can’t wait to get my refund check.

I can’t imagine that would actually happen.  It would take city council deciding to save us the money.

Instead they will find something else that they think that we “need” or at least that they think we will not stop them from spending.

As it turns out the new fee/tax they imposed on us through the water utility was not necessary.  Dare we think that they should rescind it?

Now all of the old deputy city managers are gone.  That tells us what the new city manager thinks of the old organization.  Once again I am happy to agree with him.

Bad things happened to local businesses under the old regime.

We deserve better

Brutus

6 Comments | City government, El Paso Times | Permalink
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Do we need these things?

June 6, 2015

This came in from Helen Marshall on June the first:

In today’s EP Times one front page story tells us that the Children’s Hospital is a financial disaster just waiting to blow up.  The op-ed by Dr. Papas continues that theme, noting that at the time it was proposed the math simply did not work, and many people said so – but not the wizards at the UMC, who are now working to assume control of the failed project they pushed for.   And below the fold we learn that Council will consider tomorrow the possible sites for the $180M Downtown arena – in secret, of course.  (What will happen with regard to the Children’s Museum and the Cultural Center is not included.)  Mr. Bryan Crowe asserts that the community has been included in ample discussions – translation, we will make a decision now, not you rubes.

I am waiting to hear what it is that cannot be satisfied now by the available facilities.  What high school graduation ceremonies do not take place?  What events do not come to El Paso because there is no downtown arena?   Is the intention to take some of the business away from UTEP’s Don Haskins Center?  Where will the parking be for the 12,500 people expected to fill this arena?  Please don’t tell me that they will arrive by Brio bus!
How can we be thinking of spending $180 million (in principal costs, not to mention the interest costs – and let’s note the projections about the impact of the Children’s Hospital bankruptcy on future El Paso bond ratings) while confronting significantly under-estimated costs for the Children’s Museum (undefined) and the Cultural Center (undefined).  The current New Mexico magazine has an excellent piece about the struggles of the National Hispanic Cultural Center in Albuquerque, and the costs to date.   Someone in the City should read it and sober up!
The two candidates in the District One run-off both assert that they are determined to see the city complete these three projects without asking the voters for more funds.   How?
Do we deserve better?

4 Comments | City government, County Government, El Paso Times | Permalink
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Hard to believe but true

May 21, 2015

The Times’ editorial the other day was another example of their hypocrisy.

They were advocating the discontinuance of the new water franchise fee.  I found myself agreeing with them.

They called the fee a tax.  They pointed out that the new city manager suggested cutting expenses instead of ordering the tax.  They pointed out that the tax was a last minute suggestion and that the public did not have an opportunity to participate in the process.

Then they did it.  They wrote:

Rushed public policy is almost always bad public policy.

Are they saying that their support of the rushed ball park (the team franchise must be purchased now, or else some other city will get it) and the tearing down of city hall with the subsequent sale of the Times building to the city, all done at breakneck speed,  was bad public policy?

We deserve better

Brutus

6 Comments | City government, El Paso Times | Permalink
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City ignores state requirements

May 6, 2015

This came in from Helen Marshall yesterday:

The Times reports today that the city election candidates’ financial reports earlier said to be filed late were in fact filed on time electronically; BUT only four of them went on the city clerk’s website on Friday, the day they were supposed to be viewed by the public.  BECAUSE – wait for it – the city clerk’s office is closed on Friday!  And of course, no one could be assigned to come in to work to perform an important electoral function.   One candidate used a committee to raise funds and the city has no way for that committee to file a report electronically – gee, they only had two months to figure that out – and so when the committee went to the clerk’s office on Friday with its paper report to file, they found a closed office.  OK, let’s say they should have realized that no duty would get in the way of Friday closing.   The Deputy City Clerk said that “even though committee reports cannot be submitted electronically at this time, and the city clerk’s office was closed on Friday,technically the committee’s report is still considered late.”   Translation – whoever is to blame for this, it is not the City Clerk’s office, we aren’t giving up our Fridays for anything, get that?

 
 

Brutus

 

13 Comments | City government, El Paso Times, State Government | Permalink
Posted by Brutus

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