Department: Management and Budget
Department Head/Elected Official: Dave Berry, County Administrator
Regular or Supplemental RCA:
☒ Regular RCA
☐ Supplemental RCA
Type of Request: Bonds
Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): N/A
MWDBE Participation (if applicable): N/A
Request Summary (Agenda Caption):
title
Request for approval of an order ratifying and confirming the terms and provisions relating to the Harris County, Texas Permanent Improvement Refunding Bonds, Series 2021, established by pricing certificate relating thereto; approving such Officer’s Pricing Certificate; and containing other matters relating thereto.
end
Background and Discussion:
On August 19, 2021, the County issued PIB Refunding Bonds, Series 2021 to refund $3,740,000 PIB Bonds Series 2011A; refund $10 million CP Notes, Series A-1; and refund $20 million CP Notes, Series D-2.
Expected Impact:
The refunding of Series 2011A bonds generated a NPV debt savings of $783,542.16 while the refunding of Series A-1 and Series D-2 notes restore CP borrowing capacity to provide interim financing of CIP projects.
Alternative Options:
No alternative options have been identified for ratifying order.
Alignment with Goal(s):
☐ Justice and Safety
☐ Economic Opportunity
☐ Housing
☐ Public Health
☐ Transportation
☐ Flooding
☐ Environment
☐ Governance and Customer ServicePrior Court Action (if any):
05/11/21 Agenda Item# 270, Go Forward Order to issue and sell bonds05/25/21 Agenda Item# 91, Order amending the Go Forward Order to include underwriters
06/08/21 Agenda Item# 120, Order authorizing issuance and sale of bonds
Location: N/AAddress (if applicable list below):
☐ Countywide
☐ Precinct 1
☐ Precinct 2
☐ Precinct 3
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☐ Precinct 4Fiscal and Personnel Summary |
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Service Name |
Debt Service |
FY 21-22 |
Estimates |
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FY 22 |
Next 3 FYs |
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Incremental Expenditures |
|
Labor Expenditures |
- |
- |
- |
|
Non-Labor Expenditures |
- |
- |
- |
|
Total Incremental Expenditures |
- |
- |
- |
|
Funding Sources (General Fund, PIC Fund, Debt or CP, Grants, or Other - Please Specify) |
|
Existing Budget |
- |
- |
- |
- |
|
|
- |
- |
- |
- |
|
|
- |
- |
- |
- |
|
Total Current Budget |
- |
- |
- |
|
Additional Budget Requested |
- |
- |
- |
- |
|
|
- |
- |
- |
- |
|
|
- |
- |
- |
- |
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Total Additional Budget Requested |
- |
- |
- |
|
Total Funding Sources |
- |
- |
- |
|
Personnel (Fill out section only if requesting new PCNs) |
|
Current Position Count for Service |
- |
- |
- |
|
Additional Positions Requested |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
Anticipated Implementation Date: N/A
Emergency/Disaster Recovery Note:
☒ Not an emergency, disaster recovery, or COVID-19 related item
☐ Emergency Item
☐ COVID-19 related Item
☐ Disaster Recovery related Item
Contact(s) name, title, department: Amy Perez, Director, Financial Management, Office of Management and Budget
Attachments (if applicable): Road Bonds, Series 2021 Ratifying Order