More good news, from ElPasoMatters.com :
The Public Service Board voted unanimously Wednesday to ask El Paso City Council to allow El Paso Water to issue $356 million in revenue bonds to pay for a slew of construction projects and previous debt.
. . .
Municipal revenue bonds do not require voter approval, but El Paso Water customers will still shoulder the bond costs. That future cost, which will be felt by higher rates, is unknown.
. . .
“For the next three to four years, we’re going to see this is going to put pressure on our rates, (and) we might have to increase our customer rates,” [El Paso Water’s Chief Financial Officer Arturo] Duran said.
I imagine that bond issue is different than this, from the El Paso Times:
Paying about $550 million for water, sewer and stormwater improvement projects next year is prompting El Paso Water officials to propose another increase in rates for its customers.
Water rates and the stormwater fee would each go up 9%, and sewer rates 13% next year for residential and small commercial customers under budget and rate proposals presented to the El Paso Public Service Board during a special meeting Tuesday night.
That means an average residential customer would see their bill increase $6.37 per month next year, including a 41-cent-per month-increase in the stormwater fee, if the PSB approves the proposals at its Jan. 12 meeting. That would bring the average residential bill to $66.99 per month.
. . .
This would be the seventh consecutive year the PSB increases water and sewer rates, and the second consecutive year for a stormwater fee increase.
You probably read that El Paso is one of the least affordable cities the U. S. Huh, I wonder why that is.
City Government won’t stop spending money until the taxpayers don’t have any left.