Primary Department: Management and Budget
Primary Department Head/Elected Official: Daniel Ramos, Executive Director, Office of Management and Budget
Secondary Department: N/A
Secondary Department Head/Elected Official: N/A
Regular or Supplemental RCA: Regular RCA
Type of Request: Policy
Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): N/A
MWBE Contracted Goal (if applicable): N/A
MWBE Current Participation (if applicable): N/A
Justification for 0% MWBE Participation Goal: N/A - Goal not applicable to request
Grant Indirect Costs Rate (if applicable): N/A
Justification for 0% Grant Indirect Costs Rate (if applicable): N/A - Not a grant item
Request Summary (Agenda Caption):
title
Request for approval of the Harris County Commercial Paper Policy and Procedure.
end
Background and Discussion:
The County has ten (10) Commercial Paper Programs (Series A-1, B, C, D, D-2, D-3, J-1 K and K-2) and Flood Control District has two (2) Commercial Paper Programs (Series H and H-2). The policy sets guidelines for the uses of each CP program, its legal authorization, project authorization, budget allocation and drawdown. In compliance with the policy, it is updated, reviewed and submitted to court annually.
The policy included the following changes:
* On page 4, Series C credit agreement expiration was extended to August 19, 2027.
* On page 4, Series D-3 liquidity provider was replaced by Truist Bank and the credit agreement expires August 26, 2029.
* On page 4, Series H credit agreement expiration was extended to December 10, 2027.
* On page 6, added "via QuickBase" and replaced Deputy Director, Debt Manager and Debt Analyst to "Financial Management group".
* Updated Exhibits A & B with the latest version.
* Added to Exhibit 1 the Amendment to Non-Voted Commercial Paper Policy adopted on 10/10/23.
Expected Impact: N/A
Alternative Options: N/A
County Strategic Plan Goal: N/A
County Strategic Plan Objective: N/A
Justice/S...
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