TRANSIT DRAWDOWN ORDINANCE

Board of County Commissioners · 2026-06-16 · ordinance

Miami-Dade County is authorizing the issuance of up to $350,000,000.00 in Transit System Sales Surtax Revenue Bonds. These bonds will be issued as drawdown bonds under a new program to fund transportation and transit projects within the People's Transportation Plan (PTP) Multi-Year Capital Plan (MYCP). The specific details, terms, and projects to be funded will be determined in subsequent resolutions. The bonds are secured by the one half of one percent (0.5 percent) discretionary sales surtax and will not be a debt of the county payable by ad valorem taxation. The ordinance was adopted on first reading by the Board of County Commissioners on June 16, 2026, and a public hearing is scheduled for July 21, 2026.