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ENROLLED ORIGINAL
1
A RESOLUTION
26-94
IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
April 1, 2025
To declare the existence of an emergency with respect to the need to authorize and provide for the
issuance, sale, and delivery in an aggregate principal amount not to exceed $25 million of
District of Columbia revenue bonds in one or more series, and to authorize and provide
for the loan of the proceeds of such bonds to assist Society for Science and the Public in
the financing, refinancing, or reimbursing of costs associated with an authorized project
pursuant to section 490 of the District of Columbia Home Rule Act.
RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, T hat this
resolution may be cited as the “ Society for Science and the Public Revenue Bonds Project
Emergency Declaration Resolution of 2025”.
Sec. 2. (a) Society 1776 Mass Ave LLC (the “Borrower”), is a limited liability company
solely owned by Society for Science and the Public, a nonprofit corporation organized and
existing under the laws of the District of Columbia, which seeks to have District of Columbia
revenue bonds issued and receive a loan of the proceeds thereof for:
(1) The acquisition, redevelopment, renovation, equipping and furnishing of a
property located at 1776 Massachusetts Avenue, NW, Washington, DC and certain parking facilities
and other property, real and personal, related thereto;
(2) Paying a portion of the interest on the Bonds;
(3) Funding a deposit to a debt service reserve fund, if any, for the Bonds; and
(4) Funding certain Issuance Costs.
(b) The planned financing will make available funds critically needed to finance,
refinance, or reimburse the Borrower for costs of the Project.
(c) Due to the current economic uncertainty in the financial markets, it is important for
the Council to expedite the process for the issuance of the Bonds and avoid any delay that may
adversely affect the ability of the Borrower to market the Bonds to investors or to obtain an
interest rate within the range contemplated by the Project budget.
(d) Council approval of the bond resolution authorizing the issuance of up to $25 million
of District of Columbia revenue bonds would permit the revenue bonds to be issued promptly to
provide maximum savings for the Borrower and enable the project described in subsection (a) of
this section to be completed.
ENROLLED ORIGINAL
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Sec. 3. The Council of the District of Columbia determines that the circumstances
enumerated in section 2 constitute emergency circumstances making it necessary that the Society
for Science and the Public Revenue Bonds Project Emergency Approval Resolution of 2025 be
adopted on an emergency basis.
Sec. 4. This resolution shall take effect immediately.