At tomorrow’s City Council meeting, under agenda item 19, an attempt will be made by Rep. Cassandra Hernandez and her allies to override the Mayor’s veto of $96 million of certificates of obligation.
Please write to the six City Council reps who voted in favor of this debt under agenda item 11 last Tuesday and urge them to support the Mayor’s veto. They are Reps. Svarzbein, Annello, Hernandez, Salcido, Rivera, and Lizarraga:
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As the Mayor and the media have pointed out repeatedly, El Paso has the highest outstanding CO debt in Texas and the second highest property tax rate among the fifty largest cities in the United States.
$29.8M of the $96M issuance is earmarked for cost overruns on six QOL bond projects, which had come with a price tag on the November 6, 2012 ballot. (see below).
It is unethical and possibly illegal for the City to issue additional QOL debt without taking it to the voters who approved the QOL bond in the first place.
The Mayor has taken a strong stand in opposition to this issuance and deserves our support.
Please follow the instructions at the top of the agenda and state your opinion during public comment on item 19 tomorrow.
See you there.