TRANSIT DRAWDOWN ORDINANCE

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

Miami-Dade County is authorizing the issuance of up to $350,000,000.00 in Transit System Sales Surtax Revenue Bonds. These bonds will be issued as drawdown bonds under a drawdown program to fund projects within the People's Transportation Plan (PTP), as detailed in Exhibit A. The purpose is to provide a more efficient funding solution for the Multi-Year Capital Plan (MYCP), allowing the County to borrow funds as needed to meet immediate capital requirements, thereby reducing costs and optimizing resource use. The bonds are special, limited obligations payable solely from pledged revenues derived from the one-half of one percent (0.5 percent) discretionary sales surtax. The ordinance was adopted on first reading by the Board of County Commissioners on June 16, 2026, and a public hearing is scheduled for July 21, 2026. No public comment is stated in this document.