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):
title
Request for approval to repay outstanding Commercial Paper Notes, Series A-1 in an amount not to exceed $53,825,000 and Commercial Paper Notes, Series D in an amount not to exceed $20,000,000.
end
Background and Discussion:
Commercial Paper Notes, Series A-1 and Series D, are general obligations of the County secured by ad valorem
taxes to provide interim financing of various short-term and long-term capital assets. A rate was set in the 2025 tax rate calculation for the repayment of outstanding notes.
Financial Management Section of the Office of Management and Budget requests your approval to repay a portion of the outstanding notes from ad valorem tax collections.
Expected Impact:
Reduces short-term debt and restores Series A-1 and D borrowing capacity to provide interim financing of CIP
projects.
Alternative Options: N/A
County Strategic Plan Goal: N/A
County Strategic Plan Objective: N/A
Justice/Safety Initiative (Goal 1): Choose an item.
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Additional notes related to the Strategic Plan: ...
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