GOB DRAWDOWN

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

Miami-Dade County is authorizing the issuance of up to $350,000,000.00 in General Obligation Bonds (Building Better Communities Program) to fund capital projects. These bonds will initially be issued as Drawdown Bonds, with Wells Fargo Municipal Capital Strategies, LLC as the purchaser. The bonds can be converted to fixed rate or alternate floating rate bonds. The issuance is part of a larger program authorized by Ordinance No. 05-47 and Resolution R-576-05, which has previously funded various projects including water/sewer, parks, public infrastructure, public safety, emergency/healthcare, public service outreach, housing, and cultural/library facilities. The County Mayor is authorized to finalize terms, execute agreements, and select agents for the bond issuance and conversion process. The negotiated sale to Wells Fargo is deemed in the best interest of the County due to lower costs and less risk compared to other programs. No public comment is mentioned in this document.