The El Paso City Council voted in favor, 6-2, to approve three bond ordinances, Tuesday evening.
The bond measures authorized more than $141 million in general obligation bonds and certificates of obligation to complete or begin deferred capital improvement projects that were approved by voters and city councilors. A certificate of obligation is debt issued without voters approval and is repaid through tax revenue.
The council s action will have no impact on the city s tax rate, a news statement from the city read. This is a really great opportunity for the city from a financial standpoint, El Paso Chief Financial Officer Robert Cortinas said. This opportunity is to take advantage of really low interest rates right now.
The El Paso City Council voted unanimously Tuesday evening for an amendment to the 2021 Budget Resolution that will grant City Manager Tommy Gonzales the authority to approve a one-time lump sum payment to reinstated and furloughed city employees.
El Paso Chief Financial Officer Robert Cortinas said more than 100 employees who were furloughed and have been reinstated are eligible for the one-time payments ranging from $150 to $600, totaling upwards of $90,000. About 30 employees, Cortinas said, still are furloughed, but are eligible for the payments. It s the least that we can do. We pretty much highly value our workforce, Cortinas said. So, since they weren t eligible to get a payment last year, now s the time to move forward to doing that.