25-2679
Request for approval of an order approving actions to initiate proceedings to renew the credit facility for the Harris County General Obligation Commercial Paper Notes, Series D and to amend the order authorizing the issuance of such notes, approving the engagement of note counsel in connection with the foregoing; and making other provisions regarding such notes and matters incident thereto. The foregoing order includes authorization of the engagement of Note Counsel pursuant to an engagement letter under which Harris County will obtain specialized legal services in connection with the issuance of commercial paper notes, based on (a) the demonstrated competence and qualifications of such firm, including without limitation as a nationally recognized bond counsel firm and the previous experience of its attorneys as counsel to the County, (b) 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, (c) 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 payment for such specified legal services will only occur upon the closing of the matter, and (d) the Commissioners Court finds that entering into a contingent fee contract for legal services is in the best interest of the residents of the County because Note Counsel will only be paid in the event that the contemplated matter closes.
- Committee
- Commissioners Court
- Requested by
- Management and Budget
- Introduced
- April 23, 2025
- On agenda
- May 8, 2025
- Passed
- May 8, 2025