Department: Management and Budget
Department Head/Elected Official: Daniel Ramos, Executive Director, Office of Management and Budget
Regular or Supplemental RCA: Regular RCA
Type of Request: Commercial Paper
Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): N/A
MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request
Request Summary (Agenda Caption):
title
Request for approval of an Order approving actions to initiate proceedings to amend the order authorizing the County's General Obligation Commercial Paper Program Series D-3 Notes, including the preparation and approval of an offering memorandum and financing documents; approving the engagement of professionals in connection with the foregoing; and making other provisions regarding such notes and matters incident thereto; and containing other matters relating thereto. The foregoing Order includes authorization of the engagement of Note Counsel pursuant to an engagement letter under which Harris County will obtain specialized legal services in connection with the issuance of commercial paper notes, based on the demonstrated competence and qualifications of such firm; finding that (i) such legal services require specialized expertise and experience in municipal finance, federal tax law and federal and state securities laws and therefore cannot be adequately performed by the attorneys and supporting personnel of the County, (ii) such legal services cannot be reasonably obtained from attorneys in private practice under a contract providing for the payment of hourly fees without contingency because the County will not be obligated to pay any legal fees until the successful closing of the contemplated transactions and (iii) entering into contingent fee contracts for legal services is in the best interest of the residents of the County because such firms will only be pai...
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