TRANSIT DRAWDOWN RESOLUTION

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

[case 261079] The document is a legislative resolution authorizing the issuance of Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds in a principal amount not to exceed $350,000,000.00. The bonds are for paying all or a portion of certain transportation and transit projects for the Department of Transportation and Public Works. The resolution was adopted on 7/21/2026. The document does not describe a specific construction project with a location, size, or zoning change. The document authorizes the issuance of up to $350,000,000 of Miami-Dade County, Florida Transit System Sales Surtax Revenue Bonds, with no more than $200,000,000 outstanding at any one time, as drawdown bonds under a drawdown bond program. The proceeds will fund budgeted projects in the Miami-Dade Department of Transportation and Public Works' Multi-Year Capital Plan under the People's Transportation Plan. The bonds will be sold to Wells Fargo Municipal Capital Strategies, LLC. The source of repayment is the 0.5 percent discretionary sales surtax. The document does not specify a project site, address, parcel, acreage, or zoning change. The recommendation is to adopt the Series 2026 Resolution. The document states the Citizens' Independent Transportation Trust is expected to have a resolution on its agenda for June 24, 2026. The document requests a waiver of Resolution No. R-130-06. No public comment or stakeholder sentiment is stated.