TRANSIT DRAWDOWN RESOLUTION

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

Miami-Dade County is authorizing the issuance of Transit System Sales Surtax Revenue Bonds, not to exceed $350,000,000.00, to fund transportation and transit projects for the Department of Transportation and Public Works. The bonds will be issued as 'Drawdown Bonds' initially, with a maximum of $200,000,000.00 outstanding at any time in this mode. These bonds can be converted to fixed rate or alternate floating rate bonds later. Wells Fargo Municipal Capital Strategies, LLC has been selected as the purchaser for the Drawdown Bond Program. The resolution details various interest rate modes, payment terms, and administrative procedures for these bonds. The specific transit projects to be funded are described in Appendix A, which is not included in this document.