City Council adopted an ordinance on August 13, 2024, ordering a special election to determine whether to revoke the City’s authority to issue the remaining bonds voted in the 2012 election for the Multipurpose Performing Arts and Entertainment Facility (MPC).
Revoke: to take back, withdraw, or cancel something that has been granted or approved.
On November 5, 2024, City voters will decide whether to cancel the City Council’s authority to issue the remaining, unissued $128,455,636 of bonds (a type of borrowing) that were originally approved by voters in 2012.
These bonds were originally voted to fund the construction of the MPC in Downtown El Paso.
Subsequent events have occurred since 2012 that have prompted City Council to reconsider whether the City should move forward with the MPC.
If voters approve the cancellation on November 5, 2024, the City would no longer be able to issue bonds from the 2012 election for the MPC.
If authority to issue these unissued bonds are cancelled (revoked), such revocation has no effect on any bonds previously issued by the City.
If voters do not approve the revocation of the unissued bonds, then City Council retains the authority to issue $128,455,636 of bonds for the MPC in Downtown El Paso.
ORDINANCE NO. 019661 (2024 Special Election)
The official language shall appear on the ballot as follows:
"TO CANCEL THE CITY'S AUTHORITY TO ISSUE THE REMAINING $128,455,636 IN GENERAL OBLIGATION BONDS FOR THE MULTIPURPOSE PERFORMING ARTS AND ENTERTAINMENT FACILITY TO BE LOCATED IN DOWNTOWN EL PASO WHICH WAS APPROVED BY THE VOTERS IN THE CITY'S NOVEMBER 6, 2012 ELECTION, RESULTING IN THE REVOCATION OF THE BONDS?"
Voters will be asked to choose: "FOR" OR "AGAINST"