SEAPORT REVENUE AND REVENUE REFUNDING BONDS

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

[case 261220] The document is a legislative item for a Miami-Dade County resolution authorizing the issuance of up to $700,000,000.00 in Seaport Revenue and Revenue Refunding Bonds. The resolution was introduced on 7/2/2026 and adopted on 7/21/2026. The bonds are for financing certain additional improvements and capital expenditures at the Seaport Properties and refunding all or a portion of outstanding CP Notes. The estimated costs of issuance are $5,580,600.42, and the estimated final maturity of the bonds is October 1, 2056. The resolution includes a public hearing as required by Section 147(f) of the Internal Revenue Code. The document does not specify a particular project site, address, or parcel, and does not describe any construction work. Miami-Dade County Board of County Commissioners agenda item authorizing issuance of Seaport Revenue and Revenue Refunding Bonds, Series 2026, in an aggregate principal amount not to exceed $700,000,000. The bonds fund Capital Improvement Plan (CIP) budgeted projects previously approved by the Board and refund all outstanding Seaport Commercial Paper Notes (CP Notes). The Seaport Department reached the $200,000,000 outstanding CP Notes limit requiring refinancing with long-term fixed-rate bonds. The transaction is countywide in scope. The bonds are payable solely from net revenues of the Seaport Department. Estimated cost of issuance is $5.58 million. Bonds anticipated to price in August 2026 and close in September 2026. Staff recommends approval. The document does not state a specific project site, address, parcel, acreage, or zoning change.