Council Authorizes $35 Million In Bonds At Higher Interest Rates
EL PASO — By a vote of 3-2, City Council on Tuesday authorized issuing $35 million in water and sewer revenue bonds at a higher interest rate due to recent financial troubles.
Representatives Eddie Holguin and Beto O’Rourke voted against it.
El Paso Water Utilities officials needed City Council to approve the bonds to provide them with more commercial paper capacity to pay for past projects and move forward with new projects.
EPWU has a cap of $50 million for commercial paper and it was already at $45 million.
