SEAPORT REVENUE AND REVENUE REFUNDING BONDS

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

[case 261220] Miami-Dade County Board of County Commissioners adopted Resolution R-596-26 (Legislative Item File Number 261220) on July 21, 2026, authorizing the issuance of up to $700,000,000.00 in Seaport Revenue and Revenue Refunding Bonds. The bonds will fund certain additional improvements and capital expenditures at the Seaport Properties (the 'Series 2026 Project') and refund all or a portion of outstanding Commercial Paper (CP) Notes. The estimated costs of issuance are $5,580,600.42, with an estimated final maturity of October 1, 2056. The resolution approves a plan of financing and negotiated sale of the bonds. The document does not specify a street address, parcel/folio, acreage, or number of units/lots for the project. The applicant/developer/owner is Miami-Dade County, Florida. The decision was adopted. Key dates include introduction on July 2, 2026, and final action on July 21, 2026. The document does not state any public comment or stakeholder sentiment beyond noting a public hearing was held as required by Section 147(f) of the Internal Revenue Code. 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 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. The staff recommendation is to approve the Resolution, including a waiver of Resolution No. R-130-06. No specific street address, parcel, acreage, or zoning change is stated. No public comment or stakeholder sentiment is stated.