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.
end
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.
Infrastructure Initiative (Goal 2): Choose an item.
Economy Initiative (Goal 3): Choose an item.
Health Initiative (Goal 4): Choose an item.
Climate/Resilience Initiative (Goal 5): Choose an item.
Housing Initiative (Goal 6): Choose an item.
Additional notes related to the Strategic Plan: N/A
Prior Court Action (if any):
Date
Agenda Item #
Action Taken
02/27/2025
...
Click here for full text