24-0513
Request for approval of an Order approving proceedings to authorize Harris County, Texas, Toll Road First Lien Revenue and Refunding Bonds, Series 2024A including the preparation of financing and offering documents and the publication of notice; approving the engagement of professionals in connection with the foregoing; and making other provisions regarding such bonds and matters incident thereto. The foregoing Order includes authorization of the engagement of Co-Bond Counsel and Co-Disclosure Counsel pursuant to engagement letters under which Harris County will obtain specialized legal services in connection with the issuance of the above referenced bonds, based on the demonstrated competence and qualifications of such firms; finding that (i) such legal services require specialized expertise and experience in municipal finance, federal tax law and federal and state securities laws and therefore cannot be adequately performed by the attorneys and supporting personnel of the County, (ii) such legal services cannot be reasonably obtained from attorneys in private practice under a contract providing for the payment of hourly fees without contingency because the County will not be obligated to pay any legal fees until the successful closing of the contemplated transactions and (iii) entering into contingent fee contracts for legal services is in the best interest of the residents of the County because such firms will only be paid in the event that the contemplated transactions are completed and successfully closed. MWDBE Contracted Goal: 30%.
- Committee
- Commissioners Court
- Requested by
- Management and Budget
- Introduced
- January 19, 2024
- On agenda
- January 30, 2024
- Passed
- January 30, 2024