The construction and upgrading of streets, bridges and sidewalks in El Paso will launch later this year due to $93 million in certificates of obligations.
Members of the El Paso City Council have given their approval to beginning the certificates process, which will also fund new sidewalks and pathways, as well as athletic field lighting, swimming pools, and spray parks.
The certificates are used as a result of a Texas law passed in 1971 allowing cities and municipalities to fund any number of projects without having to first seek voter approval.
Such certificates have proven particularly timely when work needs to be financed quickly, as in disaster recovery projects.
Those certificates are a financing tool also available to health and hospital districts.
In a presentation before the El Paso council it was noted that the city has plans for investing some $47 million this year on infrastructure projects, with another $80 million forecast by 2023.
Additional El Paso projects expected to be funded by the certificates include both library and museum facility work, as well as new public restrooms.
The El Paso City Council is scheduled to meet on April 13 to finalize the ordinances authorizing the certificates of obligation.
By Garry Boulard
Get stories like these right to your inbox. Sign up for our newsletter