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, structured as drawdown bonds, to fund various transportation and transit projects within the People's Transportation Plan. The bonds will be issued under a drawdown bond program for more efficient project funding. The Board of County Commissioners adopted the ordinance on first reading on June 16, 2026, with a public hearing scheduled for July 21, 2026. The funds are intended to cover costs of projects detailed in Exhibit A of the ordinance, which are part of the Department of Transportation and Public Works' Multi-Year Capital Plan. Repayment of the bonds will be secured by the one-half of one percent (0.5 percent) discretionary sales surtax.