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 authorizing proceedings to issue and sell Harris County, Texas, Permanent Improvement Refunding Bonds, Series 2026, Unlimited Tax Road Refunding Bonds, Series 2026, Flood Control District Improvement Refunding Bonds, Series 2026; and Certificates of Obligation, Series 2026 (the “Certificates”, and collectively, the “Obligations”); including the preparation of financing and offering documents and the publication of a Notice of Intent; approving the engagement of professionals in connection with the foregoing; and making other provisions regarding such Obligations, and matters incident thereto; and containing other matters relating thereto.
end
Background and Discussion:
The County intends to issue bonds in an amount not to exceed $755 million to refund CP Notes, Series B, Series C, Series C-2, Series D, Series D-2, Series D-3, Series H, and Series H2 to restore CP capacity. The Go Forward order authorizes County officials to take preliminary actions relating to the issuance of the Obligations, including publication of a Notice of Intent, with respect to the Certificates, and the execution and delivery of engagement letters with contingent fee payment provisions with the following professionals: Greenberg Traurig, LLP, as Bond Counsel and Leon, Alcala, Morse & Reynolds, PLLC, as Co-Bond Counsel; and Norton Rose Fulbright US LLP as Disclosure Counsel and West & Associates LLP, as Co-Disclosure Counsel in order for the County to obtain specialized legal services from such professionals in connection with the issuance of the Obligations. The engagement of Co-Bond Counsel and Co-Disclosure Counsel is based on the demonstrated competence, qualifications, and experience of the lawyers at such firms and the longstanding nature of their professional relationship with the County. Such professional services require specialized expertise in municipal finance law, federal tax law and federal and state securities laws and therefore cannot be adequately performed by other attorneys or supporting personnel of the County, and such legal services cannot be reasonably obtained from attorneys in private practice under a contract providing for the payment of hourly fees without contingency because the County will not be obligated to pay any legal fees in connection with the Obligations unless the Obligations are issued. As such, contingent fee contracts for such legal services are in the best interest of the County and its residents because Bond and Co-Bond Counsel and Disclosure and Co-Disclosure Counsel will only be paid in the event that the Obligations are actually issued. The foregoing statement is provided in compliance with Section 2254.1036, Texas Government Code.
Expected Impact:
Restore CP Capacity with issuance of refunding bonds and issue $160 million Certificates of Obligations for countywide road projects.
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:
Prior Court Action (if any):
|
Date |
Agenda Item # |
Action Taken |
|
|
|
|
Location:
Address (if applicable):
Precinct(s): Choose an item.
|
Fiscal and Personnel Summary |
|
Service Name |
Bonds |
|
|
|
Current Fiscal Year Cost |
Annual Fiscal Cost |
|
|
Labor |
Non-Labor |
Total |
Recurring Expenses |
|
Funding Sources |
|
|
Existing Budget |
|
|
|
|
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Existing Budget |
$ |
$ |
$ |
$ |
|
Additional Budget Request (Requires Fiscal Review Request Form) |
|
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Additional Budget Request |
$ |
$ |
$ |
$ |
|
Total Funding Sources |
$ |
$ |
$ |
$ |
|
Grants - Proposed Budget (For Grants Items only) |
|
|
Labor |
Non-Labor |
Total |
No. of Grant Years |
|
Local Match Source - Existing Budget: Choose an item. |
$ |
$ |
$ |
|
|
Local Match Source - Additional Budget Request: Choose an item. |
$ |
$ |
$ |
|
|
Grant Funds Applied for/Awarded (Total) |
$ |
$ |
$ |
|
|
Personnel (Fill out section only if requesting new PCNs) |
|
|
Current Position Count for Service |
- |
- |
- |
- |
|
Additional Positions Request |
- |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
- |
Anticipated Court Date: 4/30/2026
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, Certificates Notice of Intent