SEAPORT REVENUE AND REVENUE REFUNDING BONDS

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

The document is a staff recommendation for a Resolution authorizing the issuance of Miami-Dade County Seaport Revenue and Revenue Refunding Bonds, Series 2026, in an aggregate principal amount not to exceed $700,000,000. The bonds will pay for certain Capital Improvement Plan (CIP) budgeted projects previously approved by the Board of County Commissioners and refund all outstanding Seaport Commercial Paper Notes (CP Notes). The Seaport Department has reached the authorized limit of $200,000,000 in outstanding CP Notes, requiring refinancing with long-term, fixed-rate bonds. The transaction is countywide in scope. The recommendation is to approve the Resolution, which includes a waiver of Resolution No. R-130-06. The bonds are anticipated to price in August 2026 and close in September 2026. The principal and interest are payable solely from net revenues of the Seaport Department. The estimated cost of issuance is $5.58 million. The document does not state a specific project site, address, parcel, acreage, or zoning change.