(C) El Paso Matters.org
This story was originally published by El Paso Matters.org and is unaltered.
. . . . . . . . . .
Did a new sports stadium add to Socorro ISD’s financial problems? [1]
['Robert Moore', 'More Robert Moore', 'El Paso Matters', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width']
Date: 2025-02-28
Editor’s Note: El Paso Matters is partnering with Gigafact to produce “fact briefs” that examine claims about issues shaping our community.
No.
Voters in the Socorro Independent School District in El Paso approved a $448.5 million bond issue in November 2017 that included $59.9 million for a second stadium in the district’s Student Activities Complex.
Socorro voters agreed to tax themselves to pay for the bonds. Property taxes collected for those bonds go into the interest and sinking fund, and must be used to repay the bond issues.
The Socorro ISD school board voted Feb. 19, 2025, to cut $38 million from a separate fund, maintenance and operations. The district isn’t bringing in enough revenue to pay all of its bills from that fund, which is used to pay employees and operate schools.
This fact brief is responsive to conversations such as this one.
Sources
[END]
---
[1] Url:
http://elpasomatters.org/2025/02/28/gigafact-fact-brief-socorro-isd-sac-ii-el-paso-texas/
Published and (C) by El Paso Matters.org
Content appears here under this condition or license: Creative Commons CC BY-ND 4.0 International.
via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/elpasomatters/
