SEAPORT REVENUE AND REVENUE REFUNDING BONDS

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

[case 261220] This document is 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 introduced on 7/2/2026 and adopted on 7/21/2026. 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, and does not describe any specific construction work. 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 bonds are payable solely from net revenues of the Seaport Department. The estimated cost of issuance is $5.58 million. The bonds are anticipated to price in August 2026 and close in September 2026. The recommendation is to approve the Resolution, which also includes a waiver of Resolution No. R-130-06. The document does not state a specific street address, parcel, acreage, number of units, or a change in zoning or use. The applicant is not stated; the document is a county staff recommendation. The case number is not stated. The decision is a staff recommendation for approval. Key dates: July 20, 2021 (Ordinance No. 21-74), April 4, 2023 (Ordinance No. 23-19), July 18, 2023 (Ordinance No. 23-53), August 2026 (anticipated pricing), September 2026 (anticipated closing). No public comment or stakeholder sentiment is stated. The business opportunity is for contractors and trades to pursue work funded by the Series 2026 Bonds for Seaport CIP projects, though specific project locations and scopes are not stated in this document.