Retrovision: Can El Paso Go Bankrupt?

This article originally appeared more than four years ago, on July 30, 2014.

I mean, we’re not like other towns. We have assets. We own real estate. The Public Service Board (that’s the most sinister name for a public entity since Stalin ruled the USSR) owns hundreds [tens of thousands] of acres of land. If we got in a pinch, couldn’t we just sell some land? Probably at a discount, because we’ll really need the money. I’m sure some of the local developers could . . . .

Oh. I get it now.

Of course, there could be some legal obstacles to the PSB laying off a bunch of land to some cagey developers, but illegal never stopped the City before. Illegal is a niggling detail. The City can handle it.

One comment

  1. El Paso WILL go bankrupt, probably within the next ten years. City Hall’s spending has been out of control for a long time, and they seem intent on letting “investors” off the hook for taxes.

    Personally, I am picking up my toys and playing elsewhere. The taxes here are ridiculous and I refuse to participate any longer. My guess would be that, over time, others will figure out they are paying a lot and getting very little in return.

    Enjoy paying for Foster/Hunt’s new arena, as soon as they figure out how and where to give them one. Maybe they will blow up the “new” city hall and build it there.

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