The Socorro City Council voted Oct. 6 to direct city staff to evaluate financing options related to issuing certificates of obligation (COs) to support ongoing and future infrastructure and capital improvement needs.

Council discussion emphasized the city’s backlog of capital work — including large street overlays, park improvements, drainage upgrades and vehicle/equipment replacement — and the limitations of current patchwork maintenance funding. Staff referenced a five‑year capital improvement plan that lists approximately $25.7 million in proposed projects across streets, parks, drainage and fleet replacement. Councilmembers asked for a financial feasibility assessment to determine how much the city could prudently borrow without unduly increasing debt service burdens on the general fund.

City staff said the evaluation will include assessing borrowing capacity, expected debt service impacts on tax rates and the sequencing of projects. The council made the motion to authorize staff to solicit assessments and return with options; the motion carried.

Clarifying details: staff noted the CIP total in discussion (~$25.7M) and explained that approvals to issue debt would require subsequent council actions, notices and financial steps (RFPs or engagement with financial advisors).