Retrovision: City of El Paso #1 for Certificates of Obligation Debt in Texas

This article originally appeared on 12 February 2020.

Woohoo!

Yeah, the Miners suck, again, those poor dears.

And people are running away from El Paso like it’s on fire.

But at least El Paso excels in some areas. Like sticking it to the taxpayers!

According to this 2019 Local Annual Report from the Texas Bond Review Board, among Texas cities, El Paso had the most outstanding debt from Certificates of Obligation in 2019.

You know, Certificates of Obligation are those debts that a local government can issue without asking for permission from the taxpayers. Kind of like sneaking your dad’s car out in the middle of the night.

Outstanding!

Debt.

Our outstanding debt per capita blows away those other cities.

Ha! We’ve got more than twice as much outstanding debt as our next closest rival in the six biggest cities in Texas. Take that, San Antonio.

El Paso edged out Tommy’s weekend stomping ground Lubbock, which came in at number two. They only have $562.3 million in Certificate of Obligation debt, compared to El Paso’s $568.7 million.

Nice try, suckers. But you’re going to have to work a lot harder than that to catch El Paso’s City Council. Those cats in El Paso’s City Hall don’t know the meaning of the word quit.

Or fiscal responsibility. Or lower taxes.

And I think the man mostly responsible for this honor is Mayor Dee “Hold the Line on Taxes” Margo.

Next time you see him, buy him a single malt Scotch (one ice cube).

And remember him this November.

One comment

  1. Aww… you went and ruined a perfectly good post by suggesting putting an ice cube in a single-malt Scotch.

    This is why El Paso can never be taken seriously.

    Slàinte Mhath

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