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. 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 or alternate floating rates later. Wells Fargo Municipal Capital Strategies, LLC has been selected as the lender/bond purchaser for the Drawdown Bond Program. The resolution details various terms, interest rates, and procedures for the bonds, including definitions for different bond types and modes. The County Mayor is authorized to finalize terms and execute necessary documents. The projects to be funded are described in Appendix A, which is not included in the provided text. The matter is currently in draft status and pending BCC assignment.