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: Bonds
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 of an order approving proceedings to authorize Harris County, Texas, Toll Road Senior Lien Revenue Refunding Bonds, including the preparation of financing and offering documents; approving the engagement of professionals in connection with the foregoing; and making other provisions regarding such bonds, and matters incident thereto.
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Background and Discussion:
HCTRA intends to issue Toll Road Senior Lien Revenue Refunding Bonds in an amount not to exceed $525 million to refund certain outstanding bonds and refund eligible Commercial Paper Notes, Series K and Series K-2, to restore Commercial Paper capacity.
The Go Forward Order authorizes the preparation of financing and offering documents and the execution and delivery of engagement letters with contingent fee payment provisions for bond counsel, disclosure counsel, underwriting syndicate members, paying agent/registrar, and other professionals as may be necessary in connection with the issuance of the bonds.
The engagement of bond counsel, disclosure counsel, financial advisor, underwriting syndicate members, paying agent/registrar, and other financing professionals is based on their demonstrated competence, qualifications, and experience in municipal finance, federal tax law,...
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