I lifted this from the City’s website:
The proposed 2019 Public Safety Bond is the City’s plan to use voter approved bonds to pay for public improvements for the Police and Fire Departments, including vehicles and equipment.
If approved by the voters, the proposed projects would be funded by the City issuing general obligation bonds. The bonds are a debt that the City would pay back over time from taxpayer dollars.
For a household with a $100,000 home, the City currently estimates that property taxes would increase an average of $12 each year for the first six years, rising to a total annual average increase of $72 by year six. This is an average based on current assumptions, so in some years the increase could be higher, in other years it could be lower.http://www.elpasotexas.gov/elpasobonds2019
And then there’s this asterisked, fine print, nugget.
* Amounts listed are preliminary estimates subject to change. Actual use of any approved bond funds will be determined by subsequent action of City Council.
In other words, City Council is asking for a blank check.
What could go wrong?