Department: Management and Budget
Department Head/Elected Official: Daniel Ramos, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Commercial Paper
Project ID (if applicable): MF09G
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 commercial paper funding for the Office of the County Engineer for the CSCD Atascocita Expansion project in the additional amount of $15,000,000 for a total CP funding of $60,615,000.
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 CSCD Atascocita 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. This is for approval for allocation of commercial paper for a previously approved project within the previously authorized amount.
HB 1869 compliance confirmed by: Michael James, Special Assistant County Attorney, September 26, 2022.
Expected Impact:
The Phase 2 expansion of CSCD Atascocita began construction in Q2 2022. The Phase 2 expansion will fulfill the master plan developed as part of the already completed Phase 1. The included scope will increase the campus capacity to approximately 1,000 beds to fulfill Harris County's obligation as outlined in the 1307 Baker Agreement approved by commissioners on J...
Click here for full text