TRANSIT DRAWDOWN RESOLUTION

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

This legislative item, a resolution in draft status, authorizes the issuance of Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, in one or more series, not to exceed $350,000,000.00. The purpose is to fund transportation and transit projects for the Department of Transportation and Public Works and cover associated issuance costs. The bonds will be issued through a drawdown bond program, initially with Wells Fargo Municipal Capital Strategies, LLC, allowing for variable interest rates with a maximum of $200,000,000.00 outstanding at any time in the drawdown mode, with the option to convert to fixed or alternate floating rates later. The resolution details various definitions related to bond types, interest rates, payment agents, and operational procedures. It is scheduled for an agenda on July 21, 2026.