Discuss and take action regarding the approval of a Resolution Designating the County's Allocation of $3,773,122 in Qualified Energy Conservation Bonds to the Central Texas Regional Mobility and authorize delivery of notice to the State of Texas Bond Review Board.

The Central Texas Regional Mobility Authority (“CTRMA”), in close coordination with the Capital Area Metropolitan Planning Organization (“CAMPO”) and the Capital Metropolitan Transportation Authority (“CapMetro”), is undertaking a regional effort to plan, construct, and operate Park and Ride facilities along its roadway corridors to improve mobility and reduce congestion through a transit option. CTRMA has identified Qualified Energy Conservation Bond ("QECB") authority as a potential funding mechanism for the design and construction of priority facilities. Qualified Energy Conservation Bond ("QECB") authority includes the ability to obtain a Federal subsidy to reduce the debt service cost of the bonds and enables governmental bodies to borrow money at attractive rates and is among the lowest-cost public financing tools available. In 2010, QECB authority was provided fifty nine (59) Texas counties, including Williamson County. Most counties, like Williamson, have not used the authority either because of the small size of the allocation or other reasons. The State of Texas Bond Review Board oversees the QECB allocation. CTRMA is proposing to re-allocate and “pool” the allocations of Williamson County, Travis County, City of Austin, and the generic State of Texas for the Park and Ride program. CTRMA is therefore requesting Williamson County designate its current $3.7M allocation to the CTRMA to help build Park & Ride facilities.