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 bond 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 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 bonds are special, limited obligations of the County, payable solely from pledged revenues derived from the one-half of one percent (0.5 percent) discretionary sales surtax. The drawdown program is intended to provide a more efficient funding solution for the Multi-Year Capital Plan (MYCP) by allowing the County to borrow funds as needed, reducing costs and optimizing resource use. No public comment is stated in this document.