Miami-Dade County commissioners, meeting Tuesday, authorized up to $1.9 billion of aviation revenue bonds to continue work on Miami International Airport’s $6.2 billion capital improvement program.
According to documents, $4.14 billion of the bonds already have been sold for capital project costs and financing costs. Before the new bond authorization, the county only had $158 million available for funding.
The new debt is expected to be sold in several series and each will be approved individually by the commission in future meetings.
In addition to aviation revenue bonds, Miami-Dade also has authorized $247.5 million of double-barreled general obligation bonds for the airport, none of which have been issued to date.
