TRANSIT DRAWDOWN RESOLUTION

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

The document authorizes the issuance of up to $350,000,000 of Miami-Dade County, Florida Transit System Sales Surtax Revenue Bonds, with no more than $200,000,000 outstanding at any one time, as drawdown bonds under the Transit Drawdown Program. Proceeds will fund budgeted projects in the Miami-Dade Department of Transportation and Public Works' Multi-Year Capital Plan under the People's Transportation Plan. Wells Fargo Municipal Capital Strategies, LLC is selected as purchaser. The proposed spread is 0.59 percent and the fee for unutilized amounts is 0.25 percent. The source for repayment is the 0.5 percent discretionary sales surtax. The item is placed for Board consideration pursuant to Miami-Dade County Code Section 29-124(f), and the Citizens' Independent Transportation Trust is expected to have a resolution on its June 24, 2026 agenda. A waiver of Resolution No. R-130-06 is requested. No specific project site, address, parcel, acreage, or zoning change is stated.