Department: Management and Budget
Department Head/Elected Official: Daniel Ramos, Executive Director, Office of Management and Budget
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
MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request
Request Summary (Agenda Caption):
title
Request for approval of an order authorizing the issuance, sale, and delivery of Harris County, Texas Toll Road First Lien Revenue and Refunding Bonds, Series 2024A; approving the Sixth Supplemental Toll Road Revenue Bonds Trust Indenture, a bond purchase agreement and an official statement; authorizing an authorized representative to approve the amounts, interest rates, prices and terms of such bonds and certain other matters relating thereto; authorizing the discharge of certain outstanding Harris County, Texas Toll Road First Lien Revenue Commercial Paper Notes; authorizing necessary actions, including the execution of documents and instruments necessary or convenient to carry out the issuance, sale and delivery of such bonds and payment of such other obligations; authorizing and ratifying other actions and activities to support the issuance and administration of such bonds, including the opening of bank accounts; making certain findings with respect thereto; and containing other provisions relating to the subject.
end
Background and Discussion:
HCTRA intends to issue bonds in an amount not to exceed $950 million to refund CP Notes, Series K and Series K-2 and new money to fund toll road projects.
Expected Impact:
N/A
Alternative Options:
N/A
Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
_ Housing
_ Public Health
x Transportation
x Flooding
_ Environment
_ Governance and Customer Service
Prior Court Action (if any):
|
Date |
Agenda Item # |
Action Taken |
|
01/30/24 |
36 |
Approval of a go forward order and engagement of co-bond counsel, do-disclosure counsel and underwriters. |
Location:
Address (if applicable): N/A
Precinct(s): Choose an item.
|
Fiscal and Personnel Summary |
|
Service Name |
Bonds |
|
|
FY 24 |
FY 25 |
Next 3 FYs |
|
Incremental Expenditures (do NOT write values in thousands or millions) |
|
Labor Expenditures |
$ |
$ |
$ |
|
Non-Labor Expenditures |
$ |
$ |
$ |
|
Total Incremental Expenditures |
$ |
$ |
$ |
|
Funding Sources (do NOT write values in thousands or millions) |
|
Existing Budget |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Current Budget |
$ |
$ |
$ |
|
Additional Budget Requested |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Additional Budget Requested |
$ |
$ |
$ |
|
Total Funding Sources |
$ |
$ |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
Current Position Count for Service |
- |
- |
- |
|
Additional Positions Requested |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
Anticipated Court Date: May 7, 2024
Anticipated Implementation Date (if different from Court date): June 2024
Emergency/Disaster Recovery Note: Not an emergency, disaster, or COVID-19 related item
Contact(s) name, title, department: Amy Perez, Deputy Executive Director, Office of Management and Budget
Attachments (if applicable): Toll Road Series 2024A Authorizing Order