The long-term ratings continue to reflect the City of El Paso’s (the City’s) strong budgeting and financial management practices; historically well-balanced operations; strong level of financial reserves; manageable long-term liabilities; and recent trend of strong tax base growth. The aforementioned strengths are balanced by socioeconomic characteristics that lag that of the State and an economic base that is limited in breadth relative to the State’s largest commercial centers.
Proceeds of the currently offered General Obligation (G.O.) Bonds will be used to finance certain streets, parks, and climate projects as well as to refund certain outstanding bonds for present value savings and to pay the costs of issuance.
G.O. Bonds are general obligations of the City, payable from the levy and collection of a direct and continuing annual ad valorem tax, within the limits prescribed by law, on all taxable property within the City. G.O. Bonds sold for new money purposes are…
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