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) Multi-Year Capital Plan (MYCP). The purpose is to provide a more efficient funding solution for the MYCP by allowing the County to borrow funds as needed, 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%) discretionary sales surtax. Details, terms, and specific projects will be determined in subsequent resolutions. 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.