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: Bonds
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 ratifying and confirming the terms and provisions relating to the Harris County, Texas, Unlimited Tax Road Refunding Bonds, Series 2024A, established by an Officers Pricing Certificate relating thereto; affirming such Officers Pricing Certificate; and containing other matters relating thereto.
end
Background and Discussion:
$221,630,000 Road Refunding Bonds, Series 2024A was issued on August 8, 2024. The bond proceeds were used to defease all or a portion of Road Refunding Bonds, Series 2014A and to refund CP Notes, Series C ($107M) and Series C-2 ($1M).
Expected Impact:
The refunding bonds generated a NPV savings of $12.6 M and restored Series C and C-2 capacity.
Alternative Options: N/A
Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
_ Housing
_ Public Health
X Transportation
_ Flooding
_ Environment
X Governance and Customer Service
Prior Court Action (if any):
Date
Agenda Item #
Action Taken
3/26/24
35
Approval of a go forward order and engagement of co-bond counsel, co-disclosure counsel and underwriters.
6/25/24
406
Approval of an order authorizing the issuance of Road Refunding Bonds, Series 2024A.
Location:
Address (if applicable): N/A
Precinct(s): Choose an item.
Fiscal and Personnel Summary
Service Name
Bonds
Current Fiscal Year Cost
Annual Fiscal Cost
Labor
Non-Labor
Total
Recurring Expenses
Funding Sources
Existing Budget
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$
$
$
$
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$
$
$
$
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