GOB DRAWDOWN

Board of County Commissioners · 2026-07-21 · resolution

Miami-Dade County is authorizing the issuance of up to $350,000,000.00 in General Obligation Bonds (Building Better Communities Program) to fund capital projects. These bonds will initially be issued as Drawdown Bonds, with a maximum of $200,000,000.00 outstanding in Drawdown Mode at any time. The bonds can be converted to Fixed Rate Bonds or, with a supplemental resolution, to Alternate Floating Rate Bonds. Wells Fargo Municipal Capital Strategies, LLC has been selected to purchase the Drawdown Bonds. The issuance is part of the ongoing Building Better Communities Bond Program, which has previously authorized significant funding for various projects including water/sewer, parks, public infrastructure, public safety, emergency/healthcare, public service outreach, housing, and cultural/library facilities. The decision to proceed with a negotiated sale to Wells Fargo is based on recommendations that it results in lower costs and less risk compared to other programs. The County Mayor is authorized to finalize terms, execute agreements, and oversee the issuance and conversion processes.