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: 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 of an order authorizing various actions to initiate proceedings to replace the credit facility for the Harris County, Texas, Toll Road First Lien Revenue Commercial Paper Notes, Series K-2, and to amend and restate the order authorizing the issuance of such notes; approving the engagement of note counsel in connection with the foregoing; and making other provisions regarding such notes and matters incident thereto.
end
Background and Discussion:
Barclays Bank is the current facility provider for Commercial Paper, Series K. The agreement will expire on June 19, 2026. The County sent out RFPs for the selection of a new facility and received three responses with terms ranging from 2 years to 5 years. The County has selected US Bank as a new facility provider, having the lowest facility fee for a 5-year term.
Expected Impact:
Under a new facility provider, facility fees will decrease, resulting in annual savings.
Alternative Options: N/A
County Strategic Plan Goal: N/A
County Strategic Plan Objective: N/A
Justice/Safety Initiative (Goal 1): N/A
Infrastructure Initiative (Goal 2): N/A
Economy Initiative (Goal 3): N/A
Health Initiative (Goal 4): N/A
Climate/Resilience Initiative (Goal 5): N/A
Housing Initiative (Goal 6): N/A
Additional notes related to the Strategic Plan: N/A
Prior Court Action (if any):
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Location:
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Precinct(s): Choose an item.
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Fiscal and Personnel Summary |
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Service Name |
Commercial Paper Series K-2 |
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Existing Budget |
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Total Existing Budget |
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Additional Budget Request (Requires Fiscal Review Request Form) |
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Grants - Proposed Budget (For Grants Items only) |
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Local Match Source - Existing Budget: Choose an item. |
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Local Match Source - Additional Budget Request: Choose an item. |
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Grant Funds Applied for/Awarded (Total) |
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Personnel (Fill out section only if requesting new Position Control Numbers (PCN)s) |
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Current Position Count for Service |
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Additional Positions Request |
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Total Personnel |
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County Attorney’s Office Legal Review (for Harris County Code Items only) |
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CAO Reviewer Name and Title |
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CAO Review Completion Date |
Click or tap to enter a date. |
Anticipated Court Date: 4/16/2026
Anticipated Implementation Date (if different from Court date): Click or tap to enter a date.
Emergency/Disaster Recovery Note: Not an emergency, disaster, or ARPA related item
Contact(s) name, title, department: Fahad Gulzar, Acting Deputy Executive Director, Office of Management and Budget
Attachments (if applicable): Go Forward Order