| Item Title: | County Administration - 2023 Certificate of Obligation Notice of Intent | | Submitted By: | Jose M. Landeros, Director of Capital Planning, County Administration Department (915) 546-2215 | | Subject: | Discuss and take appropriate action regarding the adoption of a Resolution of the Commissioners Court of El Paso County, Texas, directing publication of Notice of Intention to issue Combination Tax and Revenue Certificates of Obligation; and resolving other matters relating to the subject (Contract No. 2022-0988)
| | Background: | Through a series of data exercises, staff has begun developing a capital planning document aimed at informing the Court of potential capital outlay portfolios in the future. The document reflects alignment with the Court's Strategic Plan and other objectives previously identified by the Court and County Departments.
The Court may consider the issuance of Certificates of Obligation in 2023 for financing essential public infrastructure projects as identified within the Capital Planning Document. Certificates of Obligation, or CO’s, were authorized by the Texas Certificate of Obligation Act of 1971 to provide local governments, including counties and cities, with the ability to fund various capital needs for their agencies and communities—including projects associated with unforeseen or emergency needs, public work initiatives, or providing necessary equipment and vehicles for first responders. The Commissioners Court may issue CO’s to cover any eligible project only after publishing a notice of intent to issue at least 45 days prior to the sale date of the bonds in the local newspaper. The notice must also include the maximum amount of bonds to be issued, what the funds will be used for and the date and time of the planned sale. | | Fiscal Impact: | Pending Final Action & Direction from Commissioners Court | | Recommendation: | Approve and adopt a Resolution of the Commissioners Court of El Paso County, Texas, directing publication of Notice of Intention to issue Combination Tax and Revenue Certificates of Obligation. | | Prior Action: | 11/14/2022 - Discuss and take appropriate action regarding the development of a Capital Planning Document for El Paso County, including, but not limited to, project selections, performance objectives and outcomes, performance management, operational management, and corresponding financial planning and direction. Further, receive a presentation regarding a proposed El Paso County 2023 Certificate of Obligation Portfolio and accompanying information.
11/7/2022 - Discuss and take appropriate action regarding the development of a Capital Planning Document for El Paso County, including, but not limited to, project selections, performance objectives and outcomes, performance management, operational management, and corresponding financial planning and direction.
11/3/2022 - Discuss the development of a Capital Planning Document for El Paso County, including, but not limited to, project selections, performance objectives and outcomes, performance management, operational management, and corresponding financial planning and direction. | | Strategic Plan: | .. | | Strategic Plan Information: | |
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