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):
title
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.
end
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, and federal and state securities laws. Such professional services require specialized expertise and therefore cannot be adequately performed by County personnel or reasonably obtained through contracts providing for hourly compensation because the County will not be obligated to pay professional fees in connection with the bonds unless the bonds are issued. Accordingly, contingent fee contracts for these services are in the best interest of the County and its residents because such professionals will only be compensated if the bonds are successfully issued.
Expected Impact:
Savings for refunding bonds and restoring eligible Commercial Paper Capacity
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.
Climate/Resilience Initiative (Goal 5): Choose an item.
Housing Initiative (Goal 6): Choose an item.
Additional notes related to the Strategic Plan:
Prior Court Action (if any):
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Location:
Address (if applicable):
Precinct(s): Choose an item.
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Fiscal and Personnel Summary |
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Service Name |
Bonds |
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Current Fiscal Year Cost |
Annual Fiscal Cost |
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Labor |
Non-Labor |
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Recurring Expenses |
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Funding Sources |
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Existing Budget |
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$ |
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$ |
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$ |
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$ |
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Total Existing Budget |
$ |
$ |
$ |
$ |
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Additional Budget Request (Requires Fiscal Review Request Form) |
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$ |
$ |
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$ |
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$ |
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Total Additional Budget Request |
$ |
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Total Funding Sources |
$ |
$ |
$ |
$ |
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Grants - Proposed Budget (For Grants Items only) |
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Labor |
Non-Labor |
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No. of Grant Years |
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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 PCNs) |
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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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Anticipated Court Date: 8/6/2026
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, Deputy Executive Director, Office of Management and Budget
Attachments (if applicable): 2026 HCTRA Go Forward Order