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PR26-0322 • 2025

Fiscal Year 2026 Income Tax Secured Revenue Bond, General Obligation Bond and General Obligation and Income Tax Secured Bond Anticipation Note Issuance Authorization Emergency Declaration Resolution of 2025

Fiscal Year 2026 Income Tax Secured Revenue Bond, General Obligation Bond and General Obligation and Income Tax Secured Bond Anticipation Note Issuance Authorization Emergency Declaration Resolution of 2025

Taxes
Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
at the request of the Office of the Chief Financial Officer
Last action
2025-10-17
Official status
Approved
Effective date
Not listed

Plain English Breakdown

The official source material does not specify which exact projects will be funded or reimbursed, nor does it provide details on how market conditions might affect bond issuance timing and success.

Emergency Declaration for Fiscal Year 2026 Bonds and Notes

This resolution declares an emergency to allow the District of Columbia to borrow up to $1,809,820,675 by issuing bonds and notes to fund or reimburse capital projects in Fiscal Year 2026.

What This Bill Does

  • Declares that there is an emergency situation requiring borrowing funds through bond issuance.
  • Authorizes the District of Columbia to issue income tax secured bonds and notes as well as general obligation bonds and notes up to $1,809,820,675 in total.

Who It Names or Affects

  • The District of Columbia government
  • Investors who may purchase these bonds and notes

Terms To Know

Emergency Declaration
A statement that a situation is urgent enough to require immediate action.
General Obligation Bonds
Bonds issued by a government entity, typically backed by the full faith and credit of the issuing authority.

Limits and Unknowns

  • The exact projects that will be funded or reimbursed are not specified in this resolution.
  • It is unclear how market conditions will affect the timing and success of bond issuance.

Bill History

  1. 2025-10-17 Council of the District of Columbia LIMS

    Resolution R26-0208, Effective from Oct 07, 2025 Published in DC Register Vol 72 and Page 011415

  2. 2025-10-07 Council of the District of Columbia LIMS

    Retained by the Council with comments from the Committee on Business and Economic Development

  3. 2025-10-07 Council of the District of Columbia LIMS

    Legislative Meeting

  4. 2025-10-07 Council of the District of Columbia LIMS

    Approved with Resolution Number R26-0208

  5. 2025-09-29 Council of the District of Columbia LIMS

    PR26-0322 Introduced by Chairman Mendelson at Office of the Secretary

Official Summary Text

Fiscal Year 2026 Income Tax Secured Revenue Bond, General Obligation Bond and General Obligation and Income Tax Secured Bond Anticipation Note Issuance Authorization Emergency Declaration Resolution of 2025

Current Bill Text

Read the full stored bill text 
ENROLLED ORIGINAL

1

A RESOLUTION

26-208

IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

October 7, 2025

To declare the existence of an emergency with respect to the need to approve the borrowing of
funds by the District through the issuance and sale of income tax secured bonds and notes
and general obligation bonds and notes in an aggregate principal not to exceed
$1,809,820,675.

RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That
this resolution may be cited as the “Fiscal Year 2026 Income Tax Secured Revenue Bond,
General Obligation Bond, and General Obligation and Income Tax Secured Bond Anticipation
Note Issuance Authorization Emergency Declaration Resolution of 2025”.

Sec. 2. Emergency legislation is necessary to ensure that the District can issue bonds in a
timely manner and take advantage of favorable market conditions to provide funding for or to
reimburse the District for funds already expended on Fiscal Year 2026 capital projects approved
and undertaken pursuant to the District’s Fiscal Year 2026 Budget and Financial Plan.

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 Fiscal
Year 2026 Income Tax Secured Revenue Bond, General Obligation Bond and General
Obligation, and Income Tax Secured Bond Anticipation Note Issuance Authorization Emergency
Approval Resolution of 2025 be adopted on an emergency basis.

Sec. 4. This resolution shall take effect immediately.