CITY DEBT APPROACHING $3 BILLION!
According to page 79 of the FY 2023 Budget Book, our City owes $2,257,059,064, of which $851,565,991 is principal and interest on ten certificates of obligation that were issued without…
CITY BUDGET TO INCREASE TO $1.3B FOR FY 2024, HERNANDEZ WANTS MORE DEBT
Cindy Ramirez of El Paso Matters published a substantive report on the ongoing budget talks in City Council. To summarize, Interim City Manager Cary Westin and CFO Robert Cortinas proposed…
SVARZBEIN CLAIMS TO BE “ACTING MAYOR” WHILE IN ISRAEL, SPENT $12,202 ON SEVEN TRIPS IN 2022
As we now know, former City Rep. Peter Svarzbein traveled to Tel Aviv for five days during his last month of office in order to speak on a panel at…
PETER SVARZBEIN SPENT $3,193 OF CITY FUNDS TO TRAVEL TO ISRAEL HIS LAST MONTH IN OFFICE
Former City Rep. Peter Svarzbein traveled to from Boston to Tel Aviv on December 4, 2022 and then flew from Tel Aviv to El Paso on December 9, costing the…
KROLL ASSIGNS CITY AA+ BOND RATING, BUT WHO IS KROLL?
Luisa Barrios of KTSM 9 News broke the “news” on Thursday that the Kroll Bond Rating Agency (KBRA), which promotes itself as a full-service credit rating agency registered with the…
CITY COUNCIL VOTES 6-2 TO ISSUE ANOTHER $96M IN CO DEBT WITHOUT VOTER APPROVAL
The City Council just voted 6-2 to issue another $96M in CO debt without voter approval, with Reps. Molinar and Rodriguez dissenting. This is in addition to the $93M in…
CITY CFO ROBERT CORTINAS TAKES TWO QUESTIONS FROM US
Yesterday at a District 2 event I had the opportunity to ask City CFO Robert Cortinas two questions, and you may view the video of our exchange here: 1. Given…
ON THE CITY’S FINANCES…
“The price good men pay for indifference to public affairs is to be ruled by evil men.” –Plato, The Republic, circa 375 BC. Friends, El Paso is now at a…
BUDGET UPDATE FROM CITY CFO CORTINAS: MAJOR DECLINE IN REVENUES THROUGH FY 2021
Dear Media and Friends, Yesterday, under agenda item 13.1, City CFO Robert Cortinas updated the City Council and public on the budget crisis sparked by the COVID-19 pandemic. I have…
DISCUSSION ON DEFUNDING THE “ARENA” TOMORROW, APRIL 13, 9:05AM
Dear Friends, I hope you are having a joyous Easter in spite of these strange circumstances and that you are all staying safe. I would normally not write to you…