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 to Wells Fargo Municipal Capital Strategies, LLC. The source for repayment is the 0.5 percent discretionary sales surtax. The document does not describe a specific project site, address, parcel, acreage, or zoning change. It is a financing mechanism for countywide projects. The recommendation is to adopt the Series 2026 Resolution. The document notes that the Citizens' Independent Transportation Trust is expected to have a resolution on its agenda for June 24, 2026. No public comment or stakeholder sentiment is stated.