Primary Department: Management and Budget
Primary Department Head/Elected Official: Daniel Ramos, Executive Director
Secondary Department: Management and Budget
Secondary Department Head/Elected Official: Daniel Ramos, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Commercial Paper
Project ID (if applicable): CRTS_EXPAN
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 decrease commercial paper funding for County Engineer for the Harris County Courts Expansion project in the amount of $14,000,000 for a total net CP funding of $13,500,000 in order to swap funding sources with no net reduction in project budget overall.
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Background and Discussion:
The Office of Management and Budget is providing an equal allocation of $14,000,000 in Series 2026A Certificates of Obligation for the project for no net change to project budget.
Commercial Paper Series D-2 can be used for (1) construction of public works, (2) the purchase of automobiles, equipment and machinery, including computers, materials and supplies for the operation of the County’s precincts and departments (3) Professional services, including services provided by engineers, architects, attorneys, auditors, financial advisors, and fiscal agents, in connection with the contractual obligations described in (1) and (2).
Commercial Paper is being requested for the Harris County Courts Expansion project and is expected to be repaid within the next three fiscal years either through bonds, budgetary means or pay-as-you-go sources.
Expected Impact:
CP funding reduction increases CP capacity. Using Certificates of ...
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