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File #: 25-3597    Version: 1 Name:
Type: Resolution Status: Agenda Ready
File created: 5/30/2025 In control: Commissioners Court
On agenda: 6/12/2025 Final action:
Title: Request for approval of an order ratifying and confirming the terms and provisions of the substitution of the credit agreement in connection with the Harris County, Texas Toll Road System First Lien Revenue Commercial Paper Notes, Series K, as established by the order relating thereto; approving such order; and containing other matters relating thereto.
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Primary Department: Management and Budget
Primary Department Head/Elected Official: Daniel Ramos, Executive Director

Secondary Department: N/A
Secondary Department Head/Elected Official: N/A

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

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): N/A - Not a grant item

Request Summary (Agenda Caption):
title
Request for approval of an order ratifying and confirming the terms and provisions of the substitution of the credit agreement in connection with the Harris County, Texas Toll Road System First Lien Revenue Commercial Paper Notes, Series K, as established by the order relating thereto; approving such order; and containing other matters relating thereto.
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Background and Discussion:
The County replaced PNC Bank with Truist Bank as the credit facility provider for CP Notes, Series K. The County and Truist Bank entered a 5-year term agreement effective on May 19, 2025.

Expected Impact:
Under the new credit facility provider agreement, facility fees will decrease from 0.25% to 0.23% which generate an annual savings of $44,000.

Alternative Options: N/A

County Strategic Plan Goal: N/A
County Strategic Plan Objective: N/A
Justice/Safety Initiative (Goal 1): Choose an item.
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Economy Initiative (Goal 3): Choose an item.
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Additional notes related to the Strategic Plan: N/A

Prior Court Action (if any):
Date
Agenda Item #
Action Taken
02/27/2025
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