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: Commercial Paper
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 an order ratifying and confirming the terms and provisions of the Harris County, Texas, General Obligation Commercial Paper Notes, Series D-3, as established by the Amended and Restated Order relating thereto; approving such Amended and Restated Order; and containing other matters relating thereto.
end
Background and Discussion:
The County replaced Wells Fargo with Truist Bank as the facility provider for CP Notes, Series D-3. The County and Truist Bank has entered a 5-year term agreement effective on 8/28/24.
Expected Impact:
Under the new agreement, the facility fee has decreased from 0.24% to 0.21% which will generate an annual savings of $60,833 in fees.
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):
Date
Agenda Item #
Action Taken
07/15/24
32
Approval of a go forward order and engagement of note counsel in connection with the transaction.
08/06/24
38
Approval of a Ninth Amended Order authorizing a replacement of facility provider in connection with CP Notes, Series D-3.
Location:
Address (if applicable): N/A
Precinct(s): Choose an item.
Fiscal and Personnel Summary
Service Name
Commercial Paper
Current Fiscal Year Cost
Annual Fiscal Cost
Labor
Non-Labor
Total
Recurring Expenses
Funding Sources
Existing Budget
Commercial Paper
$
$
$
$
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