TRANSIT DRAWDOWN RESOLUTION

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

Miami-Dade County is authorizing the issuance of Transit System Sales Surtax Revenue Bonds, in one or more series, with a principal amount 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 initially issued as Drawdown Bonds, with a maximum of $200,000,000.00 outstanding at any time, and can be converted to fixed rate or alternate floating rate bonds. Wells Fargo Municipal Capital Strategies, LLC has been selected as the purchaser for the Drawdown Bond Program. The resolution outlines various definitions, authorities, terms, and procedures related to the bond issuance, conversion, and repayment. The projects to be funded are described in Appendix A, which is not included in this document. The matter is in draft status and pending BCC assignment. The agenda date is July 21, 2026.