Department: Management and Budget
Department Head/Elected Official: Daniel Ramos, Executive Director, Office of Management and Budget
Regular or Supplemental RCA: Supplemental RCA
Type of Request: Bonds
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 by the Office of Management and Budget for approval of an order authorizing the issuance, sale and delivery of Harris County, Texas Permanent Improvement Refunding Bonds, Series 2024A; levying a continuing direct annual ad valorem tax for the payment of principal and interest; authorizing the authorized representative to approve the amounts, interest rates, prices, terms and redemption provisions thereof; approving the preparation of financing documents and prescribing the terms and form thereof; authorizing the preparation and distribution of an official statement in connection with the sale of the bonds; making other provisions and other activities supporting the issuance and administration of such bonds including the opening of bank accounts.
end
Background and Discussion:
PIB Refunding Bonds, Series 2024A will be issued in an amount not to exceed $200 million to refund CP, Series D, D-2 and D-3.
Expected Impact:
Restore CP, Series D, D-2 and D-3 capacity.
Alternative Options: N/A
Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
_ Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
X Governance and Customer Service
Prior Court Action (if any):
|
Date |
Agenda Item # |
Action Taken |
|
3/26/24 |
35 |
Approval of a go forward order and engagement of co-bond counsel, co-disclosure counsel and underwriters. |
Location:
Address (if applicable): N/A
Precinct(s): Choose an item.
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Fiscal and Personnel Summary |
|
Service Name |
Bonds |
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Current Fiscal Year Cost |
Annual Fiscal Cost |
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Labor |
Non-Labor |
Total |
Recurring Expenses |
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Funding Sources |
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Existing Budget |
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|
|
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|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Current Budget |
$ |
$ |
$ |
$ |
|
Additional Budget Request (Requires Fiscal Review Request Form) |
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|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Additional Budget Request |
$ |
$ |
$ |
$ |
|
Total Funding Request |
$ |
$ |
$ |
$ |
|
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 |
- |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
- |
Anticipated Court Date: June 25, 2024
Anticipated Implementation Date (if different from Court date): August 30, 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): PIB Series 2024A Order