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 Post Issuance Compliance Policy for tax-exempt bonds and commercial paper.
end
Background and Discussion:
The policy sets procedures to ensure all tax-exempt bonds and commercial paper notes issued by the County and the Flood control District are in compliance with federal laws to preserve the tax-exempt status. In compliance with the policy, it is reviewed, updated and submitted to court annually.
The policy included the following changes:
* On page 2 included "commercial paper notes" in the purpose and revised Chapter 1331 to 1431.
* On page 4 added "taxable" in the scope section.
* On page 5 added "and making a filing related thereto" under Auditor's Office section.
* On page 7 added "capitalized interest" under Use of Bond Proceeds section and added "debt service" to reserve fund.
* On page 13 added "project owner" in item 3b.
Expected Impact: N/A
Alternative Options: N/A
County Strategic Plan Goal: N/A
County Strategic Plan Objective: N/A
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