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 to pay the September 2025 debt service payments for Road Bonds, Permanent Improvement Bonds and Flood Control Bonds in an amount not to exceed $47,388,807 and to wire payments to the paying agent on the scheduled payment date of September 15, 2025.
end
Background and Discussion:
Debt service payments due September 15, 2025:
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$10,104,275.00 |
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Permanent Improvement CO, Series 2024 |
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9,823,875.00 |
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Flood Improvement Ref Bonds, Series 2023A |
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5,653,375.00 |
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Permanent Improvement Ref Bonds, Series 2023A |
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2,511,150.00 |
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Permanent Improvement Ref Bonds, Series 2024A |
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3,640,381.25 |
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Road Ref Bonds, Series 2023A |
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15,655,750.00 |
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Road Ref Bonds, Series 2024A |
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$47,388,806.25 |
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Expected Impact:
Due to change of fiscal year from February 28/29 to September 30, debt service payments for new bonds issued after October 2022 are payable on March 15 and September 15 of each year. Debt service payments for bonds issued prior to October 2022 remain payable on April 1 and October 1 of each year.
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: N/A
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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|
|
|
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Choose an item. |
$ |
$47,388,807 |
$47,388,807 |
$ |
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Choose an item. |
$ |
$ |
$ |
$ |
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Choose an item. |
$ |
$ |
$ |
$ |
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Total Existing Budget |
$ |
$47,388,807 |
$47,388,807 |
$ |
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Additional Budget Request (Requires Fiscal Review Request Form) |
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|
Choose an item. |
$ |
$ |
$ |
$ |
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Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
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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 |
Total |
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 |
- |
- |
- |
- |
Anticipated Court Date: 8/7/2025
Anticipated Implementation Date (if different from Court date): 9/15/2025
Emergency/Disaster Recovery Note: Not an emergency, disaster, or ARPA related item
Contact(s) name, title, department: Amy Perez, Deputy Executive Director, Office of Management and Budget
Attachments (if applicable): N/A