BY DON MUNSCH dmunsch@fbherald.com | Posted: Wednesday, May 11, 2011 3:44 pm
Fort Bend County Commissioners on Tuesday approved action on a request for proposal from Millis Development and Construction of Sugar Land for paving, water and grading improvements for the Highway 36 Park and Ride project to be constructed near the Fort Bend County Fairgrounds.
The county will now enter into contract negotiations with Millis.
Construction would begin sometime this summer and the project would be ready for usage this fall, said Paulette Shelton, public transportation director for Fort Bend County.
The park and ride project will have roughly 375 spaces and will have a pavilion component, Shelton said. The project will be located on the Fairgrounds Boulevard and will be set back about 250 feet from Texas 36.
Also Tuesday, commissioners approved an agenda item related to the issuance of education revenue bonds for a foundation, although the county will bear no financial liability in the transaction.
Commissioners approved action on a certificate of the Fort Bend County judge to approve, pursuant to Section 147(f) of the Internal Revenue Code, the issuance by city of Houston Higher Education Finance Corporation Education Revenue Bonds (Cosmos Foundation Inc.) Series 2011A, regarding construction and equipment of Harmony School campuses located in Fort Bend County, with no financial obligation by Fort Bend County.
Cosmos is a qualified 501(c)-3 organization and therefore is eligible to participate in tax-exempt financing, according to a letter sent to Fort Bend County Judge Bob Hebert from Andrews Kurth LLP, bond counsel for the transaction.
"However, unlike a governmental issuer (city, county and school district), a 501(c)-3 organization issues bonds through a state-approved conduit and must conduct a hearing on the financing," the letter from Andrews Kurth LLP said.
The letter said because there are campuses in Fort Bend County, the Internal Revenue Service requires that the highest elected official of the county approve the transaction after a public hearing is held. The public hearing was held in April at Andrews Kurth LLP in Houston.
Cosmos Foundation Inc. is financing and refinancing the construction and equipment of Harmony Schools across the state. The campuses to be financed in Fort Bend are located in Sugar Land and Katy, with three of those locations in Sugar Land.
The loan will not be a debt or liability of Fort Bend County, and the consent being requested was only for the purpose of complying with the federal tax law regarding tax-exempt financing.
Among other agenda items Tuesday, commissioners approved:
• authorization to accept a grant from the George Foundation in an amount not to exceed $50,000 to be used as a portion of the 20 percent local match required by the Texas Department of Transportation for the U.S. 59/FM 762 landscaping project and authorizing Hebert to sign the grant contract that will be effective after July 1, 2011.
• action on an access and utility easement from Fort Bend County to the city of Richmond, granting a private access easement and public utility easement, being a 0.087 acre of land and a 0.128 acre of land, over and across a portion of Commercial Reserve "A" of Gus George Academy Subdivision in Precinct 1.
My child was a student at the Gulen Harmony Science Academy School in Texas, we served on the Parent Association and were involved with many fundraisers. Gulen Charter School- We were very dedicated to this group until we realized there was more to these schools than just "education". Our posts are from actual news sources and government data such as IRS tax returns, H1-B Visa information and other documentation.
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