TRANSIT DRAWDOWN ORDINANCE

Board of County Commissioners · 2026-06-16 · ordinance

Miami-Dade County Board of County Commissioners adopted on first reading an ordinance authorizing the issuance of up to $350,000,000.00 in Transit System Sales Surtax Revenue Bonds. These bonds will be issued as drawdown bonds under a drawdown bond program to fund transportation and transit projects within the People's Transportation Plan, as detailed in Exhibit A. The ordinance was introduced on May 26, 2026, adopted on first reading on June 16, 2026, and scheduled for a public hearing on July 21, 2026. The funding source for repayment is a 0.5 percent discretionary sales surtax. The ordinance aims to provide a more efficient funding solution for the Multi-Year Capital Plan by allowing the County to borrow funds as needed, reducing costs and optimizing resource use. No public comment is stated in the document.