Primary Department: Management and Budget
Primary Department Head/Elected Official: Daniel Ramos, Executive Director
Secondary Department: County Engineer
Secondary Department Head/Elected Official: Milton Rahman
Regular or Supplemental RCA: Regular RCA
Type of Request: Commercial Paper
Project ID (if applicable): VEHCL_CRIME
Vendor/Entity Legal Name (if applicable):
MWBE Contracted Goal (if applicable): N/A
MWBE Current Participation (if applicable): N/A
Justification for 0% MWBE Participation Goal: N/A - Goal not applicable to request
Grant Indirect Costs Rate (if applicable): N/A
Justification for 0% Grant Indirect Costs Rate (if applicable): Choose an item.
Request Summary (Agenda Caption):
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Request for approval of commercial paper funding for the Office of the County Engineer for the Vehicle Crimes Processing Facility project in the additional amount of $1,000,000 for a total CP funding of $1,070,000.
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Background and Discussion:
Commercial Paper Series D-2 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 Vehicle Crimes Processing Facility 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, October 17, 2023.
Expected Impact:
This approval will allow these projects to go forward using Public Safety Bond funding upon receiving AG legal a...
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