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File #: 24-1520    Version: 1 Name:
Type: Policy Status: Passed
File created: 3/13/2024 In control: Commissioners Court
On agenda: 3/26/2024 Final action: 3/26/2024
Title: Request for approval of the Harris County Commercial Paper Policy and Procedure.
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: Policy

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):
Request for approval of the Harris County Commercial Paper Policy and Procedure.

Background and Discussion:
The County has ten (10) Commercial Paper programs (Series A-1, B, C, C-2, D, D-2, D-3, J-1 K and K-2) and the Flood Control District has two (2) Commercial Paper programs (Series H and H-2). The policy sets guidelines for the uses of each CP program, its legal authorization, project authorization, budget allocation and drawdown. In compliance with the policy, it is updated, reviewed and submitted to court annually.

The policy included the following changes:
* Added Series C-2 and Series K-2 programs
* Changed Series C maximum maturity date to January 1, 2053
* Replaced Series J-1 liquidity provider to TD Bank
* Updated the Project Authorization and Budget Allocation for Series A-1, D, D-2 and D-3 section
* Added Non-voted CP Policy and Procedure for Precincts and County Judge Office to the Exhibit
* Removed libraries from Series B because per AG that is no longer allowed

Expected Impact:

Alternative Options:

Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
_ Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
X Governance and Customer Service

Prior Court Action (if any):
Agenda Item #
Action Taken

Address (if applicable):
Precinct(s): Choose an item.

Fiscal and Personnel Summary
Service Name

Current Fiscal Year Cost
Annual Fiscal Cost

Recurring Expenses
Funding S...

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