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: Commercial Paper
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):
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Request for approval to pay the IRS an arbitrage rebate payment in the amount of $6,871.57 on the Toll Road First Lien Revenue Commercial Paper Notes, Series K-2, and to send payment on the due date of February 2, 2026.
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Background and Discussion:
The CP Series K and CP Series K-2 were refunded by Toll Road Series 2025A on December 4, 2025, which triggered a final maturity report. Based on the arbitrage calculation provided by the County's arbitrage consultant, Hilltop, a positive arbitrage of $6,871.57 for the CP, Series K-2 is due and shall be rebated to the Federal Government with a 60-day payment window, which ends on February 2, 2026.
Expected Impact: N/A
Alternative Options: N/A
County Strategic Plan Goal: N/A
County Strategic Plan Objective: N/A
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Additional notes related to the Strategic Plan: N/A
Prior Court Action (if any):
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