City Council approves issuance of $8.4 Million Bonds for improvements

By: Jose G. Landa
Copyright 2013 Eagle Pass Business Journal, Inc.

The City of Eagle Pass, Texas City Council unanimously approved the issuance of $8,485,000(million) in tax exempt obligations or bonds for improvements to municipal buildings, construction projects, and programs at their special meeting held on Tuesday, October 22, 2013, at City Hall located at 100 South Monroe Street in Eagle Pass, Texas.

The $8.485 Million Bonds will be used to pay for certain City of Eagle Pass projects including the paving of streets, improving the water drainage system, renovations to city buildings, and improving city parks and facilities. Specifically, $2.3 Million will be used for street paving projects, $1.3 Million will go to repairing and improving water drainage projects, $1 Million will be for renovating the Eagle Pass Public Library, $2 Million will be for renovation of the National Armory Building as the new headquarters of the Eagle Pass Police Department, $500,000 is for renovation of the Eagle Pass Fire Department Central Fire Station, and the remainder is for improvements to City Hall, the Recycling Center, City Parks, and Community Centers.

The City Administration will work with the City Financial Advisor David Gonzalez of Estrada & Hinojosa and City Bond Counsel Juan Aguilera to process the issuance and purchase of the City of Eagle Pass’$8.485 Million Tax Exempt Bonds.

In other business, the City Council unanimously approved to reappoint local attorney Francisco Martinez III as Municipal Court Judge at a salary of $70,000 per year and Ruben Montemayor as Assistant Municipal Court Judge at $25 per hour on an as needed basis.