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 certain transportation and transit projects within the People's Transportation Plan, as detailed in Exhibit A. 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. The bonds are special, limited obligations payable solely from pledged revenues derived from the transit system sales surtax. No other county funds or ad valorem taxes are pledged for repayment. The issuance of these bonds is intended to provide a more efficient funding solution for the Multi-Year Capital Plan by allowing the County to borrow funds as needed, reducing costs and optimizing resource use. Public comment is not stated in this document.