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): MF0DU
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 Fire, Life Safety, and Electrical System Repair and Renovations Countywide project in the additional amount of $1,000,000 for a total CP funding of $13,575,000.
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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 Fire, Life Safety, and Electrical System Repair and Renovations 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: Michael James, Special Assistant County Attorney, February 28, 2022.
Expected Impact:
This is a continuous lifecycle management project to identify and address all required enhancements needed for Fire, Life Safety, and Electrical Systems in County facilities that are currently maintained by BOS. Enhancements are done when components are outdated/fa...
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