R7B - Authorize 339.9 Million Stormwater Bond Election

A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, CALLING FOR A NOVEMBER 3, 2026 CITY OF MIAMI BEACH SPECIAL ELECTION, FOR THE PURPOSE OF SUBMITTING TO THE ELECTORATE OF THE CITY OF MIAMI BEACH A QUESTION ASKING WHETHER CITY SHALL BE AUTHORIZED TO ISSUE GENERAL OBLIGATION BONDS, FROM TIME TO TIME, NOT EXCEEDING $339,965,000 IN AGGREGATE PRINCIPAL AMOUNT, PAYABLE FROM UNLIMITED AD VALOREM TAXES, BEARING INTEREST NOT EXCEEDING THE MAXIMUM LEGAL INTEREST RATE, AND MATURING NO LATER THAN 30 YEARS FROM ISSUANCE DATE, TO IMPROVE THE CITY’S STORMWATER INFRASTRUCTURE INCLUDING NEIGHBORHOOD IMPROVEMENT PROJECTS, CRITICAL INFRASTRUCTURE REPLACEMENTS, RELIABILITY IMPROVEMENTS, UPGRADES, REGULATORY COMPLIANCE PROJECTS, FLOODING MITIGATION, SEAWALLS, AND RESILIENCY INITIATIVES.