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: Bonds
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 the issuance, sale and delivery of Harris County, Texas Toll Road System First Lien Revenue Refunding Bonds, Series 2023A; approving the Harris County, Texas Toll Road Revenue Bonds Fifth Supplemental Toll Road Revenue Bond Trust Indenture, a bond purchase agreement and an official statement; authorizing an authorized representative to approve the amounts, interest rates, prices and terms of such bonds and certain other matters relating thereto; authorizing the defeasance, final payment and discharge of certain outstanding Harris County, Texas, Toll Road Senior Lien Bonds and Parity Hedge Agreements; authorizing necessary actions, including the execution of documents and instruments necessary or convenient to carry out the issuance, sale and delivery of such bonds and defeasance and termination of such other obligations; authorizing and ratifying other actions and activities to support the issuance and administration of such bonds, including the opening of bank accounts; making certain findings with respect thereto; and containing other provisions relating to the subject.
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Background and Discussion:
In 2007, the County issued Toll Road Senior Lien Revenue Refunding Bonds, Series 2007B as LIBOR-Index Floating Rate and concurrently entered into two separate Swap agreements with JP Morgan and Citibank in order to hedge the County's variable interest rate exposure under the Series 2007B Bonds. On June 30, 2023, LIBOR will cea...
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