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 a drawdown bond program. The 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 bonds will be sold through a direct placement to Wells Fargo Municipal Capital Strategies, LLC, selected through a request for proposals. The source of repayment is the 0.5 percent discretionary sales surtax. The document recommends Board adoption of the Series 2026 Resolution, which also waives Resolution No. R-130-06. The document does not specify a project site, address, parcel, acreage, or zoning change. The document states the CITT is expected to have a resolution on its agenda for June 24, 2026, and the item may only be considered if CITT forwards a recommendation or 45 days have elapsed since filing. The document does not include public comment or stakeholder sentiment.