Bill > PR26-0323

This resolution authorizes the District of Columbia to issue income tax secured revenue bonds and general obligation bonds totaling up to $1,809,820,675 for fiscal year 2026, which will fund a wide range of capital projects across multiple categories. The categories include school facilities (the largest allocation at $487,383,456), local and regional transportation, general support facilities, redevelopment infrastructure, recreation centers, and other areas such as correctional facilities, police stations, parks, libraries, and technology infrastructure. The resolution allows the Chief Financial Officer to determine the specific financing mechanism, whether through bonds, notes, or other obligations, and provides flexibility to reallocate excess funds from one project to another if needed. The bonds can cover not just the direct project costs but also associated expenses like underwriting fees, legal costs, and establishing reserve funds. The resolution is enacted on an emergency basis and will take effect immediately upon adoption, with the Council approving the execution of any necessary documents related to the bond issuance.

https://lims.dccouncil.gov/Legislation/PR26-0323