Primary Department: Management and Budget
Primary Department Head/Elected Official: Daniel Ramos, Executive Director
Secondary Department: N/A
Secondary Department Head/Elected Official: N/A
Regular or Supplemental RCA: Regular RCA
Type of Request: Bonds
Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): N/A
MWBE Contracted Goal (if applicable): 30%
MWBE Current Participation (if applicable): N/A
Justification for 0% MWBE Participation Goal: N/A - Goal is not 0% and is listed above
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 an order ratifying and confirming the terms and provisions of the Harris County, Texas, Toll Road First Lien Revenue Refunding Bonds, Series 2025A, as established by the pricing certificate relating thereto; approving such pricing certificate; and containing other matters relating thereto.
end
Background and Discussion:
The County issued Toll Road First Lien Revenue & Refunding Bonds, Series 2025A, to refund the Toll Road Senior Lien Revenue Refunding Bonds, Series 2015B and CP Notes, Series K and Series K-2.
Expected Impact:
On November 18, 2025, the County successfully priced the bonds, and the transaction was closed on December 4, 2025. Refunding savings were $9.3 million / 9.7% of refunded bonds on a net present value basis. The bond proceeds from the refund of Series K and K-2 Notes restore CP capacity. The issuance of Series 2025A Bonds increases the total outstanding Toll Road Bonds with bond principals maturing from 2026 to 2055.
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.
Economy Initiative (Goal 3): Choose an item.
Health Initiative (Goal 4): Choose an item.
...
Click here for full text