TRANSIT DRAWDOWN RESOLUTION

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

Miami-Dade County is authorizing the issuance of up to $350,000,000.00 in Transit System Sales Surtax Revenue Bonds. These bonds will be used to finance transportation and transit projects for the Department of Transportation and Public Works and cover associated issuance costs. The bonds will initially be issued as Drawdown Bonds, with a maximum of $200,000,000.00 outstanding at any time in this mode. These Drawdown Bonds can be converted to Fixed Rate Bonds or, with a supplemental resolution, to Alternate Floating Rate Bonds. Wells Fargo Municipal Capital Strategies, LLC has been selected as the lender/bond purchaser for the Drawdown Bond Program. The County Mayor is authorized to finalize terms, execute agreements, and oversee the issuance, conversion, and remarketing of these bonds. The projects to be financed are detailed in Appendix A of the resolution.