TRANSIT DRAWDOWN RESOLUTION

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

This document is a Board of County Commissioners agenda item for the Series 2026 Resolution, which authorizes the issuance of up to $350,000,000 of Miami-Dade County Transit System Sales Surtax Revenue Bonds as drawdown bonds, with no more than $200,000,000 outstanding at any one time. 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 recommendation is to adopt the resolution, select Wells Fargo Municipal Capital Strategies, LLC as purchaser, fund issuance costs and reserve requirements, and waive Resolution No. R-130-06. The document does not state a specific project site, address, parcel, acreage, or zoning change. The bonds are repaid from a 0.5 percent discretionary sales surtax. The initial minimum draw is $10,000,000, with subsequent draws of at least $1,000,000. The CITT is expected to forward a recommendation at its June 24, 2026 meeting. The document does not state any public comment or stakeholder sentiment.