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 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 scope of the transaction is countywide. The principal and interest 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 staff recommendation is to approve. No public comment or stakeholder sentiment is stated in the document.