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 establishes procedures to ensure that all tax-exempt bonds and commercial paper notes issued by the County and the Flood Control District comply with federal laws to preserve their tax-exempt status. In compliance with the policy, it is reviewed, updated, and submitted to the court on an annual basis.
The policy includes the following changes:
* Municipal Securities Rulemaking Board (MSRB) was added to item#2 Overview.
* MSRB was added to item 3 Scope.
* Under item 4(b) a language, "of each material event" was added to the last bullet.
* Post Issuance Compliance check list item 6(e) - the BOS/RPD was updated to "Operations/Real Property Division".
* Under item 4(a) second bullet has changed to "Project completion - The Financial Accounting Department will close a project upon request from the department that confirms the project is complete".
Expected Impact: N/A
Alternative Options: N/A
County Strategic Plan Goal: N/A
County Strategic Plan Objective: N/A
Justice/Safety Initiative (Goal 1): Choose an item.
Infrastructure Initiative (Goal 2): Choose an item.
Econo...
Click here for full text