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, not to exceed $350,000,000.00, to fund transportation and transit projects for the Department of Transportation and Public Works. The bonds will be issued through a drawdown bond program, initially with Wells Fargo Municipal Capital Strategies, LLC, allowing for up to $200,000,000.00 to be outstanding at any time in a drawdown mode, with the option to convert to fixed or alternate floating rates later. The funds will be used for projects outlined in Appendix A of the resolution, which are part of the People's Transportation Plan. The County Mayor is authorized to finalize terms, execute agreements, and oversee the issuance and conversion processes. The bonds are special, limited obligations payable solely from Pledged Revenues and do not represent a debt of the County or pledge its faith and credit.