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 (Public Health Trust) to manage cash flow impacts from delays in state intergovernmental transfers and to pay costs of issuance. The line of credit will be secured by pledged revenues of the Public Health Trust and will have an initial three-year term with a variable interest rate. The County Mayor or designee is authorized to extend the term and appoint a paying agent if deemed favorable. A Memorandum of Understanding requires the Public Health Trust 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.