TRANSIT DRAWDOWN RESOLUTION

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

Miami-Dade County adopted Resolution 261079 on July 21, 2026, authorizing the issuance of Transit System Sales Surtax Revenue Bonds, not to exceed $350,000,000.00. These bonds will fund transportation and transit projects for the Department of Transportation and Public Works and cover issuance costs. The bonds will be issued as 'Drawdown Bonds' through a program with Wells Fargo Municipal Capital Strategies, LLC, with a maximum of $200,000,000.00 outstanding at any time in the Drawdown Mode. These bonds can be converted to fixed rate or alternate floating rate bonds. The resolution authorizes the County Mayor to finalize terms, execute agreements, and select agents. The projects to be funded are described in Appendix A, which are transit capital improvement projects within the People's Transportation Plan. The bonds are special, limited obligations payable solely from Pledged Revenues, not the faith and credit of the County.