SEAPORT REVENUE AND REVENUE REFUNDING BONDS

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

[case 261220] This is a legislative item for a resolution authorizing the issuance of up to $700,000,000.00 in Miami-Dade County, Florida Seaport Revenue and Revenue Refunding Bonds. The bonds will fund certain additional improvements and capital expenditures at the Seaport Properties and refund all or a portion of outstanding CP Notes. The resolution was adopted by the Board of County Commissioners on July 21, 2026. The estimated costs of issuance are $5,580,600.42, and the estimated final maturity of the bonds is October 1, 2056. The document does not specify a particular project site, address, or parcel. A public hearing was held, and the resolution was approved. The document does not state any public comment or stakeholder sentiment. 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 and refund all outstanding Seaport Commercial Paper Notes. The scope is countywide. The Seaport Department has reached the $200,000,000 authorized limit for outstanding commercial paper notes, necessitating refinancing with long-term, fixed-rate bonds. The bonds are anticipated to price in August 2026 and close in September 2026. The recommendation is to approve the Resolution, including a waiver of Resolution No. R-130-06. The document does not describe a specific construction project, site, or physical change.