TRANSIT DRAWDOWN RESOLUTION

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

Miami-Dade County is authorizing the issuance of Transit System Sales Surtax Revenue Bonds, in one or more series, 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 associated issuance costs. The bonds will initially be issued as Drawdown Bonds, with a maximum of $200,000,000.00 outstanding at any time, and can be converted to Fixed Rate Bonds or Alternate Floating Rate Bonds. Wells Fargo Municipal Capital Strategies, LLC has been selected as the purchaser for the Drawdown Bond Program. The County Mayor or designee is authorized to finalize terms, execute agreements, and manage the issuance and conversion processes. The bonds are special, limited obligations payable solely from Pledged Revenues and do not pledge the faith and credit of the County.