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, in one or more series, not to exceed $350,000,000.00. The purpose is to 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 in this mode. These can be converted to Fixed Rate Bonds or Alternate Floating Rate Bonds. Wells Fargo Municipal Capital Strategies, LLC has been selected as the lender/bond purchaser for the Drawdown Bond Program. The County Mayor or designee is authorized to finalize terms, execute documents, and manage the conversion and remarketing processes. The projects to be funded are transit capital improvement projects within the People's Transportation Plan, as described in Appendix A (not provided in the document).