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 as drawdown bonds. These bonds will fund certain transportation and transit projects within the People's Transportation Plan, as detailed in Exhibit A of the ordinance. The drawdown bond program is intended to provide a more efficient funding mechanism for the Multi-Year Capital Plan, allowing the County to borrow funds as needed to reduce costs and optimize resource use. The bonds will be repaid solely 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.