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: 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 for approval to pay the March 2024 debt payments for the Harris County Road, Permanent Improvement Bonds, and Flood Control Bonds and to wire payments to the paying agent on the scheduled payment date of March 15, 2024.
end
Background and Discussion:
Financial Management Section of the OMB request approval to pay the March 2024 payments for the following bonds:
$ 6,474,093.75 Flood Imp Ref Bonds, Series 2023A
3,342,398.61 Permanent Imp Ref Bonds, Series 2023A
2,446,872.29 Road Ref Bonds, Series 2023A
$12,263,364.65
Due to change of fiscal year from February 28/29 to September 30, debt service payments for new bonds (Road, PIB and Flood bonds) issued from October 2022 onward are payable on March 15th and September 15th of each year. Debt service payments for bonds issued prior to October 2022 remain payable on October 1st and April 1st of each year.
Expected Impact:
Reduces debt.
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):
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Date |
Agenda Item # |
Action Taken |
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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 |
Debt Service |
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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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Bonds |
$ |
$12,263,365 |
$12,263,365 |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Current Budget |
$ |
$12,263,365 |
$12,263,365 |
$ |
|
Additional Budget Request (Requires Fiscal Review Request Form) |
|
|
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: February 27, 2024
Anticipated Implementation Date (if different from Court date): March 15, 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): N/A