2026 PHT LINE OF CREDIT

Board of County Commissioners · 2026-05-19 · ordinance

Miami-Dade County Board of County Commissioners adopted an ordinance approving a revolving line of credit not to exceed $300,000,000.00 from TD Public Finance LLC. This credit facility is intended to provide working capital for the Public Health Trust to manage cash flow impacts from delays in state intergovernmental transfers and to pay associated issuance costs. The line of credit will have a three-year term, bear a variable interest rate, and be secured by pledged revenues of the Public Health Trust. The County Mayor or designee is authorized to extend the term and appoint a paying agent if deemed favorable. A Memorandum of Understanding between the County and the Public Health Trust outlines the Trust's obligation to reimburse the County for debt service from Trust revenues. The ordinance waives provisions of Resolution No. R-130-06 requiring contracts to be finalized before agenda placement. The transaction is managed by Arlesa Wood (OMB) and Mark Knight (Jackson Health System CFO).