TRANSIT DRAWDOWN RESOLUTION

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

The document authorizes the issuance of up to $350,000,000 of Miami-Dade County, Florida Transit System Sales Surtax Revenue Bonds, with no more than $200,000,000 outstanding at any one time, as drawdown bonds under a Transit Drawdown Program. 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 Series 2026 Resolution, select Wells Fargo Municipal Capital Strategies, LLC as purchaser, and waive Resolution No. R-130-06. The item is placed for Board consideration pursuant to Miami-Dade County Code Section 29-124(f), with expected CITT recommendation on June 24, 2026. The source for repayment is the 0.5 percent discretionary sales surtax. Initial minimum draw is $10,000,000, subsequent draws minimum $1,000,000. Wells Fargo provided the most favorable proposal with a spread of 0.59 percent and fee for unutilized amounts of 0.25 percent. No specific project site, address, parcel, acreage, or zoning change is stated.