SEAPORT REVENUE AND REVENUE REFUNDING BONDS

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

[case 261220 (Legislative Item File Number); R-596-26 (Resolution Reference)] Miami-Dade County Board of County Commissioners adopted Resolution R-596-26 (Legislative Item File Number 261220) on July 21, 2026, authorizing issuance of up to $700,000,000.00 aggregate principal amount of Miami-Dade County, Florida Seaport Revenue and Revenue Refunding Bonds. The bonds are for paying costs of certain additional improvements and capital expenditures (the Series 2026 Project) and refunding all or a portion of outstanding CP Notes. Estimated costs of issuance are $5,580,600.42, estimated final maturity is October 1, 2056, and estimated net present value savings from refunding is 0.00 percent. The resolution approves a plan of financing and negotiated sale, and waives provisions of Resolution No. R-130-06. A public hearing was held as required by Section 147(f) of the Internal Revenue Code. The document does not state a specific street address, parcel, acreage, number of units, or zoning change. 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 recommendation is to approve the Resolution, which also 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 Seaport Department has credit ratings of 'A3' from Moody's and 'A' from Fitch. The document does not state a specific street address, parcel, acreage, number of units, or a zoning change. No public comment or stakeholder sentiment is stated.