24-1519
Request for approval of an Order authorizing proceedings to issue and sell, in one or more series or subseries, its Harris County, Texas Permanent Improvement and Refunding Bonds, Series 2024 and Harris County, Texas Unlimited Tax Road and Refunding Bonds, Series 2024; authorizing the issuance of certificates of obligation for authorized purposes and the related publication of notice of intention to issue such certificates of obligation, if deemed necessary; authorizing the preparation of all financing and offering documents; approving the engagement of professionals in connection with the issuance and sale of the bonds and/or certificates of obligation; and making other provisions regarding such bonds or certificates of obligation and matters incident thereto. The foregoing Order includes authorization of the engagement of co-bond counsel and co-disclosure counsel and the County hereby acknowledges and affirms 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 transaction and (iii) entering into a contingent fee contract for legal services is in the best interest of the residents of the County because Co-Bond Counsel and Co-Disclosure Counsel will only be paid in the event that the contemplated transaction is completed and the Bonds successfully issued and delivered, MWDBE Contracted Goal: 30%.
- Committee
- Commissioners Court
- Requested by
- Management and Budget
- Introduced
- March 13, 2024
- On agenda
- March 26, 2024
- Passed
- March 26, 2024