Department: Management and Budget
Department Head/Elected Official: David Berry, County Administrator
Regular or Supplemental RCA:
? Regular RCA
? Supplemental RCA
Type of Request: Commercial Paper
Project ID (if applicable): DOWNTOWN_BLDG
Vendor/Entity Legal Name (if applicable): N/A
MWDBE Participation (if applicable): N/A
Request Summary (Agenda Caption):
title
Request for approval of commercial paper funding for the Office of the County Engineer for the Building Consolidation project in the additional amount of $11,510,000 for a total CP funding of $41,410,000.
end
Background and Discussion:
Commercial Paper Series D 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 Building Consolidation project and is expected to be repaid within the next three fiscal years either through bonds, budgetary means or pay-as-you-go sources.
HB 1869 compliance. Confirmed by: Michael James, Assistant County Attorney, September 1, 2021.
Expected Impact:
This CP funding will allow for network and security renovations as well as the design for the building renovations.
Alternative Options:
No alternatives have been identified to providing CP funding for this project.
Alignment with Goal(s):
? Justice and Safety
? Economic Opportunity
? Housing
? Public Health
? Transportation
? Flooding
? Environment
? Governance and Customer Service
Prior Court Action (if any):
Date Approved
Agenda Item
Purpose
Project Amount
CP
Amount
01/05/2021
IV 1(b)
Authorized Project
$300,000
01/29/2021
4i(1)
Allocated CP Funding
$300,000
05/25/2021
21-...
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