Agenda

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AI- 45888

Commissioners Court

Meeting Date:	12/17/2018
2018 Bond Program
Submitted For:	Clarence Daugherty	Submitted By:	Teresa Nelson
Department:	Engineering
Request Type:	GENERAL

Information

Department Action

Below and attached are proposals for the first steps for the new bond program. It is proposed that bonds be sold in January or February, 2019. Proceeds from the sale should be available in late April, 2019. Therefore, the first bond funding year would be May 1, 2019 – April 30, 2020. The proposed sale includes the needs identified in that time period.
The first attachment is a summary of the cost estimates for each year for the three propositions. The first sale would be that shown in the first year of this chart. The other attachments are more information: Proposition A, Freeways; and Proposition B, Thoroughfares. It is anticipated that we would sell $2M for Proposition C, Open Space, each year.
Notice that the five-year total for Prop A is more than $600M. The amount needed for the “pre-construction” tasks will be more than $600M, but the funding earmarked by COG and TxDOT will supplement the Collin County bond program once it becomes available. Therefore, no more than $600M will be sold.
The last attachment is proposed criteria for city thoroughfare projects to be solicited and selected in late 2019. It is proposed that the approved criteria be sent to the cities as soon as the Commissioners Court approves it. Then we propose that we issue a “call for projects” in the fall of 2019, with the selection and funding taking place in early 2020. Therefore, we have no funding for city projects in the first funding year. In addition we recommend that the funding for city projects only take place twice: in the second year and fourth year. Issuing calls, making selections and funding more often than that would cause undo burden on all entities involved.
It is recommended that the Commissioners Court consider the attached information and determine the amounts of the first bond sale. In addition it is recommended that the Court adopt criteria for selection of city thoroughfares for funding, so this information can be sent to the cities as soon as possible.

Purchasing Department Action

No action by Purchasing at this time.

HR and/or IT Action

Budget Department Action

No action by Budget.

Auditor's Office Action

No action by Auditor.

Commissioners Court

Proposed utilization of 2018 County Bond Election proceeds, Engineering.

Budget Information

Information about available funds

Budgeted:

Funds Available:

Adjustment:

Amount Available:

n/a

Unbudgeted:

Funds NOT Available:

Amendment:

Account Code(s) for Available Funds
1:

Fund Transfers

Attachments
Court Order
agenda memo
Summary of Court Approval 12-17-2018
Summary of Cost Estimates
Proposition A First Year Sale
Proposition B First Year Sale
Criteria for City Projects for 2018 Bond Program, v4