SEAPORT REVENUE AND REVENUE REFUNDING BONDS

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

The document is a staff recommendation for a Miami-Dade County Board of County Commissioners resolution authorizing the issuance of 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 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 bonds are payable solely from net revenues of the Seaport Department. The transaction scope is countywide. The bonds are anticipated to price in August 2026 and close in September 2026. Estimated cost of issuance is $5.58 million. The recommendation is to approve the resolution, which also includes a waiver of Resolution No. R-130-06. No specific project site, address, parcel, acreage, or zoning change is stated in the document.