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): TBD
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):
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Request for approval of commercial paper funding for the Commissioner of Precinct 2 for the Updating Aging Transportation Fleet and Equipment project in the amount of $1,250,000.
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Background and Discussion:
Commercial Paper Series D-3 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 Updating Aging Transportation Fleet and Equipment
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: Paige Abernathy, Assistant County Attorney, January 4, 2024.
Expected Impact:
The proposed fleet update is essential in fulfilling our mission to promote social and physical activity among senior citizens, enabling them to remain active and valuable contributors to their communities. By facilitating regular engagement, we strive to combat isolation within the elder population and reduce the prevalence of loneliness and depression.
Alternative Opt...
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