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: Commercial Paper
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 of an Order authorizing various actions to engage one or more dealers for the Harris County Flood Control District Limited Tax Commercial Paper Notes, Series H and Series H-2 and the Harris County, Texas, Toll Road First Lien Revenue Commercial Paper Notes, Series K, including the preparation of offering documents and the approval of Commercial Paper Dealer Agreements; and making other provisions regarding such notes, and matters incident thereto; containing other matters relating thereto. The foregoing Order includes authorization of the engagement of Note Counsel pursuant to an engagement letter under which Harris County will obtain specialized legal services in connection with the engagement of one or more dealers, based on the demonstrated competence and qualifications of such firm; finding that (i) such legal services require specialized expertise and experience in municipal finance, federal tax law and federal and state securities laws and therefore cannot be adequately performed by the attorneys and supporting personnel of the County, (ii) 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 until the closing of the contemplated matter and (iii) entering into a contingent fee contract for legal services is in the best interest of the residents of the County because...
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