Department: Management and Budget
Department Head/Elected Official: Daniel Ramos, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Transmittal
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
Transmittal by the Office of Management and Budget of the Commercial Paper Status Report for the 2nd quarter, FY 2023-2024. This report is a requirement of the Commercial Paper Policies and Procedures approved annually by Commissioners Court.
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Background and Discussion:
In 1996 Commissioners Court established a general obligation commercial paper program secured by ad valorem taxes for the purpose of financing various short-term assets and temporary construction financing for certain long-term fixed assets. The program at this time consists of twelve series totaling $2.5 billion. The Series A-1 ($100 million), Series B ($40 million), Series D ($200 million), Series D-2 ($300 million), Series D-3 ($200 million), Series H ($500 million), Series H-2 ($200 million) and Series J-1 (50 million) notes are payable from the limited tax. The Series C ($360 million) and Series C-2 ($200 million) notes are payable from an unlimited tax. The Series K ($200 million) and Series K-2 ($150 million) notes are payable from revenues generated by the Harris County Toll Road System. Source of repayment are Bonds, budgetary means or pay-as-you-go sources.
Expected Impact: N/A
Alternative Options: N/A
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):
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Anticipated Court Date: April 23, 2024
Anticipated Implementation Date (if different from Court date):
Emergency/Disaster Recovery Note: Not an emergency, disaster, or COVID-19 related item
Contact(s) name, title, department: Amy Perez, Deputy Executive Director, Office of Management and Budget
Attachments (if applicable): Commercial Paper Status Report