Primary Department: Management and Budget
Primary Department Head/Elected Official: Daniel Ramos, Executive Director
Secondary Department: Universal Services
Secondary Department Head/Elected Official: Sindhu Menon, Executive Director & CIO
Regular or Supplemental RCA: Regular RCA
Type of Request: Commercial Paper
Project ID (if applicable): NI007
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 reallocation of commercial paper funding for Universal Services for the Cyber Security project from Series D-2 to Series D in the amount of $2,765,000 for a net CP funding of $9,730,000.
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Background and Discussion:
This is for approval for allocation of commercial paper for a previously approved project within the previously authorized amount. Please note that we are reallocating the funds from one series to another, to allow for the ease of tracking labor costs. The total CP funding amount remains unchanged.
Commercial Paper Series D and D-2 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 Cyber Security project and is expected to be repaid within the next three fiscal years either through bonds, budgetary means or pay-as-you-go sources.
HB 1869 compliance confirmed by: Pai...
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