Department: Management and Budget
Department Head/Elected Official: Daniel Ramos, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Commercial Paper
Project ID (if applicable): MF0HVAC
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):
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Request for approval of commercial paper funding for the Office of the County Engineer for the Heating, Ventilation Air Conditioning (HVAC) Repair and Replacement Countywide project in the amount of $3,000,000 for a total of $26,250,000.
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Background and Discussion:
Commercial Paper Series D can be used for (1) construction of public works, (2) the purchase of automobiles, equipment and machinery, including computers, materials and supplies for the operation of the County's precincts and departments (3) Professional services, including services provided by engineers, architects, attorneys, auditors, financial advisors, and fiscal agents, in connection with the contractual obligations described in (1) and (2).
Commercial Paper is being requested for the Heating, Ventilation Air Conditioning (HVAC) Repair and Replacement Countywide project and is expected to be repaid within the next three fiscal years either through bonds, budgetary means or pay-as-you-go sources. This is for approval for allocation of commercial paper for a previously approved project within the previously authorized amount.
HB 1869 compliance confirmed by: Scott Lemond, Special Assistant County Attorney, February 28, 2022.
Expected Impact:
This is an ongoing lifecycle management project to identify and address all required repairs and/or replacements of HVAC systems in County facilities that are currently maintained by FPM.
Alternative Options:
Not funding this program would lead to an even greater backlog of...
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