TRANSIT DRAWDOWN RESOLUTION

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

[case 261079 (Resolution R-621-26)] The document is a legislative resolution (File Number 261079, Resolution R-621-26) adopted by the Miami-Dade County Board of County Commissioners on 7/21/2026. It authorizes the issuance of up to $350,000,000.00 in Transit System Sales Surtax Revenue Bonds for transportation and transit projects under the People's Transportation Plan. The bonds will be issued through a drawdown program with Wells Fargo Municipal Capital Strategies, LLC as the purchaser, with no more than $200,000,000.00 outstanding at any one time. The resolution does not specify any particular project site, address, parcel, or acreage. It is a financing authorization, not a development approval. No public comment or stakeholder sentiment is stated in the document. The document is a Board of County Commissioners agenda item recommending adoption of a Series 2026 Resolution authorizing issuance of up to $350,000,000 of Miami-Dade County Transit System Sales Surtax Revenue Bonds, with no more than $200,000,000 outstanding at any one time, as drawdown bonds under a 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. The resolution selects Wells Fargo Municipal Capital Strategies, LLC as purchaser, waives Resolution No. R-130-06, and delegates authority to the Mayor or designee to sell bonds, determine terms, and convert to fixed rate. The source of repayment is the 0.5 percent discretionary sales surtax. The item may only be considered if the Citizens' Independent Transportation Trust forwards a recommendation or 45 days have elapsed since filing. The CITT is expected to have a resolution on its June 24, 2026 agenda. The document does not state a specific project site, address, parcel, acreage, or zoning change.