GOB DRAWDOWN

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

[case 260977; R-594-26] Miami-Dade County Board of County Commissioners adopted Resolution R-594-26 (Legislative Item File Number 260977) on 7/21/2026, authorizing the issuance of General Obligation Bonds (Building Better Communities) in a principal amount not to exceed $350,000,000.00. The bonds fund approved capital projects under the Building Better Communities Bond Program, including water and sewer, parks, public infrastructure, public safety, emergency and healthcare, public service outreach, housing, and cultural/library facilities. The bonds will be issued as Drawdown Bonds purchased by Wells Fargo Municipal Capital Strategies, LLC, with no more than $200,000,000 outstanding at one time, and may be converted to Fixed Rate Bonds or Alternate Floating Rate Bonds. The resolution was introduced 5/27/2026 and adopted 7/21/2026. No specific project sites, addresses, parcels, or acreage are listed in the document text. The document is a Board of County Commissioners agenda item for Miami-Dade County authorizing the Series 2026 Resolution to issue general obligation bonds through a direct placement with Wells Fargo. The bonds finance Building Better Communities (BBC) Projects, which have countywide impact. The bonds are payable from unlimited ad valorem taxes on all real and tangible property within the County. The aggregate principal amount of all authorized bond series is $2,372,285,000, with $1,663,960,000 outstanding as of May 1, 2026. The applicable spread is 0.35 percent (35 basis points), and the fee for unutilized amounts is 0.20 percent (20 basis points). The document requests a waiver of Resolution No. R-130-06. No specific project site, address, parcel, or size is stated.