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Friday, Feb. 28, 2025

Did a new sports stadium add to Socorro ISD’s financial problems?

Robert Moore, El Paso Matters
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.

See a full discussion of this at El Paso Matters

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