Bill > PR26-0143

This resolution declares an emergency to authorize the issuance of up to $675 million in District of Columbia revenue bonds to assist Georgetown University in refinancing and financing various campus infrastructure and development projects. The bonds will specifically refinance two previous bond series from 2010 and 2017, which originally funded multiple significant university improvements, including constructing a new science center, renovating academic and residential facilities across multiple campus locations, upgrading technology infrastructure, and making various capital improvements. The resolution highlights the critical need to expedite the bond issuance process due to current economic uncertainty in financial markets, with the goal of enabling Georgetown University to obtain favorable financing terms and continue its campus development initiatives. The emergency declaration allows the resolution to be adopted after a single reading, streamlining the approval process and helping the university quickly access necessary funding for its ongoing projects across its main campus, law center, and other facility locations in Washington, DC.

https://lims.dccouncil.gov/Legislation/PR26-0143