Like greedy pigs at the trough, our County Commissioners Court just voted 4-1 under agenda item 9C to issue a certificate of obligation in the amount of $54 million.
Commissioner Butler gave the standard “but it’s for a good cause speech,” joining three of her colleagues in trampling on the fundamental right of the taxpayers to decide upon a major debt issuance. This is no surprise, coming from a tax-and-spend liberal who declared during her recent campaign that COs can be “the fastest and the best option” for County projects.
This is in addition to the $552 million in general obligation bonds the County and UMC will be issuing over the next several fiscal years.
Thus, in the blink of an eye, our Commissioners Court added more than $1 billion in principal and interest to our County debt, which will burden our children and grandchildren through at least 2055.
As for Jose Landeros and the other County staffers who insist that a $54 million CO will cause “no fiscal impact,” they are liars of the lowest order. That’s right, LIARS.
Not issuing a $54 million CO could lower our property tax as old debt is retired, so issuing the debt will have a direct fiscal impact on every property owner in El Paso County.
With a growth rate of only 0.1%, the lowest among the 10 most populous counties in Texas, El Paso County can ill afford to pressure El Pasoans with higher taxes, but Judge Samaniego and Commissioners Butler, Stout, and Coronado are convinced they know what’s best for us.
Fellow Taxpayers, don’t get mad. Get even!
We will mobilize and fight with every fiber of our being until the tyrants who voted for this antidemocratic monstrosity are ejected from office at the ballot box!