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 various transportation and transit projects identified in the People's Transportation Plan (PTP) and the Department of Transportation and Public Works' (DTPW) Multi-Year Capital Plan (MYCP). The proceeds will be used to pay for the costs of these projects. The specific terms, details, and maturities of the bonds will be determined in subsequent resolutions. The funding source for repayment is the one half of one percent (0.5 percent) discretionary sales surtax. The ordinance was adopted on first reading on June 16, 2026, and a public hearing is scheduled for July 21, 2026.