SEAPORT REVENUE AND REVENUE REFUNDING BONDS

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

Miami-Dade County Board of County Commissioners agenda item authorizing the issuance of Seaport Revenue and Revenue Refunding Bonds, Series 2026, in an aggregate principal amount not to exceed $700,000,000. The bonds will pay for Capital Improvement Plan (CIP) budgeted projects previously approved by the Board and refund all outstanding Seaport Commercial Paper Notes (CP Notes). The Seaport Department has reached the $200,000,000 authorized limit for outstanding CP Notes, requiring refinancing with long-term fixed-rate bonds. The bonds are payable solely from net revenues of the Seaport Department. The transaction is countywide in scope. The bonds are anticipated to price in August 2026 and close in September 2026. Estimated cost of issuance is $5.58 million. The staff recommendation is to approve the resolution. The document does not state a specific street address, parcel, acreage, number of units, or zoning change, as this is a financing resolution for existing approved projects, not a new development project.