Department: Management and Budget
Department Head/Elected Official: Daniel Ramos
Regular or Supplemental RCA: Regular RCA
Type of Request: Financial Authorization
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 a resolution relating to the intention of Harris County to reimburse itself for the prior lawful expenditures of funds relating to certain capital purposes from the proceeds of such tax-exempt obligation to be issued by Harris County.
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Background and Discussion:
In a separate RCA presented on this meeting of Commissioners Court, the Office of Management and Budget (OMB) is seeking financial authorization for up to $4.1M for the purchase of land at or near 3315 Delano St. This land will be used to further and enhance the Riverside Health Center project. The companion RCA proposes to use up to $4.1M in general funds for the initial purchase. At a future date, OMB may determine that it is more financially advantageous to the County= to use another funding source, like commercial paper. In order to move an expense from a non-debt funding source to commercial paper, Commissioners Court must pass a resolution declaring its intent to do so before the expenses are made or within a very short timeframe thereafter.
Expected Impact:
This reimbursement resolution will permit the County to use debt to reimburse up to $4.1M in expenditures for the Riverside Health Center, including the purchase of land and structures located at or near 3315 Delano St., Houston, TX.
Alternative Options:
Capital purchases can be made with other funds. By not approving this reimbursement resolution, Commissioners Court would potentially preclude the County being able to reimburse previous expenses from oth...
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