TRANSIT DRAWDOWN ORDINANCE

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

Miami-Dade County is authorizing the issuance of up to $350,000,000.00 in Transit System Sales Surtax Revenue Bonds, to be issued as drawdown bonds under a drawdown program. These bonds will fund certain transportation and transit projects within the People's Transportation Plan (PTP) as detailed in Exhibit A of the ordinance. The drawdown program is intended to provide a more efficient funding mechanism for the Multi-Year Capital Plan (MYCP), allowing the County to borrow funds as needed to meet immediate capital requirements, thereby reducing costs and optimizing resource use. The bonds are special, limited obligations of the County, payable solely from and secured by a pledge of Pledged Revenues derived from the one-half of one percent (0.5 percent) discretionary sales surtax. The ordinance was adopted on first reading by the Board of County Commissioners on June 16, 2026, and a public hearing is scheduled for July 21, 2026. The ordinance is sponsored by Anthony Rodriguez.