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 various transportation and transit projects included in the People's Transportation Plan (PTP) and the Department of Transportation and Public Works' (DTPW) Multi-Year Capital Plan (MYCP). The specific details, terms, and projects to be financed will be determined in subsequent resolutions. The bonds are secured by a pledge of Pledged Revenues from the one-half of one percent (0.5%) discretionary sales surtax. 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. This is a countywide initiative.