Martin Paredes of El Paso News has obtained a recording of yesterday’s meeting of the University Medical Center Board of Managers from an anonymous source.
The recording reveals that the Board voted to issue a certificate of obligation in the amount of $400 million to fund expansion of the hospital.
Paredes just published an incisive report on this CO issuance.
Incredibly, at tomorrow’s “Special Meeting” the County Commissioners Court under agenda item 5 will vote to “Discuss and take appropriate action with respect to an order approving and authorizing publication of notice of intention to issue El Paso County Hospital District certificates of obligation in accordance with Texas Local Government Code Section 271.049.”
The agenda item does not list the dollar amount of the CO, which is debt to be issued without voter consent!
The debt issuance will have a substantial impact on the property tax of every El Pasoan who owns property.
The County Commissioners Court needs to delete the agenda item and repost it for a future meeting with the dollar amount clearly indicated and allow ample time for public discussion and debate as well as media coverage.