Harmony DC Public Charter Schools Revenue Bonds Project Approval Resolution of 2026

MURIELBOWSERMayor
April24,2026
TheHonorablePhilMendelsonChairmanCounciloftheDistrictofColumbiaJohnA.WilsonBuilding1350PennsylvaniaAvenue,NW,Suite504Washington,DC20004
DearChairmanMendelson:
EnclosedforconsiderationandadoptionbytheCounciloftheDistrictofColumbiaisaproposedresolutiontitled“HarmonyDC PublicCharterSchoolsRevenueBondsProjectApprovalResolutionof2026”
Theresolutionauthorizestheissuance,sale,anddeliveryoftax-exemptrevenuebonds,notes,orotherobligationsinanaggregateprincipalamountnottoexceed$17,000,000tofinance,refinance,orreimbursecostsincurredbyHarmonyDC PublicCharterSchoolinconnectionwiththeacquisition,renovation,equipping,anddevelopmentoflandanda33,774-square-footbuildinglocatedat29178thStreet,NE,alongwithassociatedparkingfacilitiesandotherrelatedrealandpersonalproperty.
Inaccordancewithsection490oftheHomeRuleAct,ithasbeendeterminedthatthebonds,when,as,andif issued,shallbewithoutrecoursetotheDistrict.ThebondsshallnotbegeneralobligationsoftheDistrict;shallnotbeapledgeoforinvolvethefullfaithandcreditorthetaxingpoweroftheDistrict;shallnotconstituteadebtoftheDistrict;andshallnotconstitutealendingofpubliccreditforaprivateundertakingasprohibitedinsection602(a)(2)oftheHomeRuleAct.ThebondsshallnotgiverisetoanypecuniaryliabilityoftheDistrict,andtheDistrictshallhavenoobligationwithrespecttothepurchaseofthebonds.
1urgetheCounciltotakepromptandfavorableactionontheenclosedmeasure.
Sincerely,
MfrielBQwser
Enclosure
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2 airman Phil Mendelson
3 at the request of the Mayor
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7 A PROPOSED RESOLUTION
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11 IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
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15 To authorize and provide for the issuance, sale, and delivery in an aggregate principal amount not to
16 exceed $17 million of District of Columbia revenue bonds in one or more series pursuant
17 to a plan of finance and to authorize and provide for the loan of the proceeds of such bonds
18 to assist Harmony DC Public Charter Schools in the financing, refinancing, or reimbursing
19 of costs associated with an authorized project pursuant to section 490 of the District of
20 Columbia Home Rule Act.
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22 RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA , That this
23 resolution may be cited as the "Harmony DC Public Charter Schools Revenue Bonds Project
24 Approval Resolution of 2026".
25 Sec. 2. Definitions.
26 For the purposes of this resolution, the term:
27 (1) "Authorized Delegate" means the Mayor or the Deputy Mayor for Planning and
28 Economic Development, or any officer or employee of the Executive Office of the Mayor to whom
29 the Mayor has delegated or to whom the foregoing individuals have subdelegated any of the
30 Mayor's functions under this resolution pursuant to section 422(6) of the Home Rule Act.
31 (2) "Bond Counsel" means a firm or firms of attorneys designated as bond counsel from
32 time to time by the Mayor.
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(3) “Bonds” means the District of Columbia revenue bonds, notes, or other obligations 33
(including refunding bonds, notes, and other obligations), in one or more series, authorized to be 34
issued pursuant to this resolution. 35
(4) “Borrower” means the owner of the assets financed, refinanced, or reimbursed with 36
proceeds from the Bonds, which shall be Harmony DC Public Charter Schools, a corporation 37
organized and existing under the laws of the District of Columbia, qualified to do business in the 38
District of Columbia, and exempt from federal income taxes under 26 U.S.C § 501(a) as an 39
organization described in 26 U.S.C. § 501(c)(3). 40
(5) “Closing Documents” means all documents and agreements other than Financing 41
Documents that may be necessary and appropriate to issue, sell, and deliver the Bonds and to make 42
the Loan, and includes agreements, certificates, letters, opinions, forms, receipts, and other similar 43
instruments. 44
(6) “District” means the District of Columbia. 45
(7) “Financing Documents” means the documents other than Closing Documents that relate 46
to the financing, refinancing or reimbursement of transactions to be effected through the issuance, 47
sale, and delivery of the Bonds and the making of the Loan, including any offering document, and 48
any required supplements to any such documents. 49
(8) “Home Rule Act” means the District of Columbia Home Rule Act, approved December 50
24, 1973 (87 Stat. 774; D.C. Official Code § 1-201.01 et seq.). 51
(9) “Issuance Costs” means all fees, costs, charges, and expenses paid or incurred in 52
connection with the authorization, preparation, printing, issuance, sale, and delivery of the Bonds 53
and the making of the Loan, including, but not limited to, underwriting, legal, accounting, rating 54
agency, and all other fees, costs, charges, and expenses incurred in connection with the development 55
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and implementation of the Financing Documents, the Closing Documents, and those other 56
documents necessary or appropriate in connection with the authorization, preparation, printing, 57
issuance, sale, marketing, and delivery of the Bonds and the making of the Loan, together with 58
financing fees, costs, and expenses, including program fees and administrative fees charged by the 59
District, fees paid to financial institutions and insurance companies, initial letter of credit fees (if 60
any), compensation to financial advisors and other persons (other than full-time employees of the 61
District) and entities performing services on behalf of or as agents for the District. 62
(10) “Loan” means the District’s lending of proceeds from the sale, in one or more series, of 63
the Bonds to the Borrower. 64
(11) “Project” means the financing, refinancing or reimbursing of the Borrower for all or a 65
portion of the Borrower's costs incurred in connection with: 66
(A) The acquisition, renovation, equipping and development of an approximately 67
33,774 square foot public charter school facility located at 2917 8th Street NE, Washington, D.C. 68
20017; 69
(B) Funding certain working capital costs, to the extent financeable relating to the 70
Bonds; 71
(C) Funding interest on the Bonds and any credit enhancement costs, liquidity 72
costs or debt service reserve fund relating to the Bonds; and 73
(D) Paying allowable Issuance Costs. 74
Sec. 3. Findings. 75
The Council finds that: 76
(1) Section 490 of the Home Rule Act provides that the Council may by resolution authorize 77
the issuance of District revenue bonds, notes, or other obligations (including refunding bonds, notes, 78
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or other obligations) to borrow money to finance, refinance, or reimburse costs, and to assist in the 79
financing, refinancing, or reimbursing of, the costs of undertakings in certain areas designated in 80
section 490 and may effect the financing, refinancing, or reimbursement by loans made directly or 81
indirectly to any individual or legal entity, by the purchase of any mortgage, note, or other security, 82
or by the purchase, lease, or sale of any property. 83
(2) The Borrower has requested the District to issue, sell, and deliver revenue bonds, in one 84
or more series, in an aggregate principal amount not to exceed $17 million, and to make the Loan 85
for the purpose of financing, refinancing, or reimbursing costs of the Project. 86
(3) The Project is located in the District and will contribute to the health, education, safety, 87
or welfare of, or the creation or preservation of jobs for, residents of the District, or to economic 88
development of the District. 89
(4) The Project is an undertaking in the area of elementary, secondary and college and 90
university facilities within the meaning of section 490 of the Home Rule Act. 91
(5) The authorization, issuance, sale, and delivery of the Bonds and the Loan to the 92
Borrower are desirable, are in the public interest, will promote the purpose and intent of section 490 93
of the Home Rule Act, and will assist the Project. 94
Sec. 4. Bond authorization. 95
(a) The Mayor is authorized pursuant to the Home Rule Act and this resolution to assist in 96
financing, refinancing, or reimbursing the costs of the Project by: 97
(1) The issuance, sale, and delivery of the Bonds, in one or more series, in an 98
aggregate principal amount not to exceed $17 million; and 99
(2) The making of the Loan. 100
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(b) The Mayor is authorized to make the Loan to the Borrower for the purpose of financing, 101
refinancing, or reimbursing the costs of the Project and establishing any fund with respect to the 102
Bonds as required by the Financing Documents. 103
(c) The Mayor may charge a program fee to the Borrower, including, but not limited to, an 104
amount sufficient to cover costs and expenses incurred by the District in connection with the 105
issuance, sale, and delivery of each series of the Bonds, the District’s participation in the monitoring 106
of the use of the Bond proceeds and compliance with any public benefit agreements with the 107
District, and maintaining official records of each bond transaction and assisting in the redemption, 108
repurchase, and remarketing of the Bonds. 109
(d) The Bond authorization set forth in this resolution includes the authorization to issue 110
refunding Bonds to refinance any Bonds previously issued under this resolution to finance the 111
Project; provided that the maximum principal amount of Bonds outstanding at any time does not 112
exceed the maximum principal amount of Bonds authorized hereunder. 113
Sec. 5. Bond details. 114
(a) The Mayor and each Authorized Delegate is authorized to take any action reasonably 115
necessary or appropriate in accordance with this resolution in connection with the preparation, 116
execution, issuance, sale, delivery, security for, and payment of the Bonds of each series, including, 117
but not limited to, determinations of: 118
(1) The final form, content, designation, and terms of the Bonds, including a 119
determination that the Bonds may be issued in certificated or book-entry form; 120
(2) The principal amount of the Bonds to be issued and denominations of the Bonds; 121
(3) The rate or rates of interest or the method for determining the rate or rates of 122
interest on the Bonds; 123
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(4) The date or dates of issuance, sale, and delivery of, and the payment of interest 124
on the Bonds, and the maturity date or dates of the Bonds; 125
(5) The terms under which the Bonds may be paid, optionally or mandatorily 126
redeemed, accelerated, tendered, called, or put for redemption, repurchase, or remarketing before 127
their respective stated maturities; 128
(6) Provisions for the registration, transfer, and exchange of the Bonds and the 129
replacement of mutilated, lost, stolen, or destroyed Bonds; 130
(7) The creation of any reserve fund, sinking fund, or other fund with respect to the 131
Bonds; 132
(8) The time and place of payment of the Bonds; 133
(9) Procedures for monitoring the use of the proceeds received from the sale of the 134
Bonds to ensure that the proceeds are properly applied to the Project and used to accomplish the 135
purposes of the Home Rule Act and this resolution; 136
(10) Actions necessary to qualify the Bonds under blue sky laws of any jurisdiction 137
where the Bonds are marketed; and 138
(11) The terms and types of credit enhancement, if any, under which the Bonds may 139
be secured. 140
(b) The Bonds shall contain a legend, which shall provide that the Bonds are special 141
obligations of the District, are without recourse to the District, are not a pledge of, and do not 142
involve the faith and credit or the taxing power of the District, do not constitute a debt of the 143
District, and do not constitute lending of the public credit for private undertakings as prohibited in 144
section 602(a)(2) of the Home Rule Act. 145
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(c) The Bonds shall be executed in the name of the District and on its behalf by the manual 146
or facsimile signature of the Mayor, and attested by the Secretary of State of the District of 147
Columbia by the Secretary of State of the District of Columbia’s manual or facsimile signature. The 148
Mayor’s execution and delivery of the Bonds shall constitute conclusive evidence of the Mayor’s 149
approval, on behalf of the District, of the final form and content of the Bonds. 150
(d) The official seal of the District, or a facsimile of it, shall be impressed, printed, or 151
otherwise reproduced on the Bonds. 152
(e) The Bonds of any series may be issued in accordance with the terms of a trust instrument 153
to be entered into by the District and a trustee to be selected by the Borrower subject to the approval 154
of the Mayor, and may be subject to the terms of one or more agreements entered into by the Mayor 155
pursuant to section 490(a)(4) of the Home Rule Act. 156
(f) The Bonds may be issued at any time or from time to time in one or more issues and in 157
one or more series. 158
Sec. 6. Sale of the Bonds. 159
(a) The Bonds of any series may be sold at negotiated or competitive sale at, above, or 160
below par, to one or more persons or entities, and upon terms that the Mayor considers to be in the 161
best interest of the District. 162
(b) The Mayor or an Authorized Delegate may execute, in connection with each sale of the 163
Bonds, offering documents on behalf of the District, may deem final any such offering document on 164
behalf of the District for purposes of compliance with federal laws and regulations governing such 165
matters and may authorize the distribution of the documents in connection with the sale of the 166
Bonds. 167
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(c) The Mayor is authorized to deliver the executed and sealed Bonds, on behalf of the 168
District, for authentication, and, after the Bonds have been authenticated, to deliver the Bonds to the 169
original purchasers of the Bonds upon payment of the purchase price. 170
(d) The Bonds shall not be issued until the Mayor receives an approving opinion from Bond 171
Counsel as to the validity of the Bonds of such series and, if the interest on the Bonds is expected to 172
be exempt from federal income taxation, the treatment of the interest on the Bonds for purposes of 173
federal income taxation. 174
Sec. 7. Payment and security. 175
(a) The principal of, premium, if any, and interest on, the Bonds shall be payable solely from 176
proceeds received from the sale of the Bonds, income realized from the temporary investment of 177
those proceeds, receipts and revenues realized by the District from the Loan, income realized from 178
the temporary investment of those receipts and revenues prior to payment to the Bond owners, other 179
moneys that, as provided in the Financing Documents, may be made available to the District for the 180
payment of the Bonds, and other sources of payment (other than from the District), all as provided 181
for in the Financing Documents. 182
(b) Payment of the Bonds shall be secured as provided in the Financing Documents and by 183
an assignment by the District for the benefit of the Bond owners of certain of its rights under the 184
Financing Documents and Closing Documents, including a security interest in certain collateral, if 185
any, to the trustee for the Bonds pursuant to the Financing Documents. 186
(c) The trustee is authorized to deposit, invest, and disburse the proceeds received from the 187
sale of the Bonds pursuant to the Financing Documents. 188
Sec. 8. Financing and Closing Documents. 189
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(a) The Mayor is authorized to prescribe the final form and content of all Financing 190
Documents and all Closing Documents to which the District is a party that may be necessary or 191
appropriate to issue, sell, and deliver the Bonds and to make the Loan to the Borrower. Each of 192
the Financing Documents and each of the Closing Documents to which the District is not a party 193
shall be approved, as to form and content, by the Mayor. 194
(b) The Mayor is authorized to execute, in the name of the District and on its behalf, the 195
Financing Documents and any Closing Documents to which the District is a party by the Mayor’s 196
manual or facsimile signature. 197
(c) If required, the official seal of the District, or a facsimile of it, shall be impressed, 198
printed, or otherwise reproduced on the Financing Documents and the Closing Documents to which 199
the District is a party. 200
(d) The Mayor’s execution and delivery of the Financing Documents and the Closing 201
Documents to which the District is a party shall constitute conclusive evidence of the Mayor’s 202
approval, on behalf of the District, of the final form and content of the executed Financing 203
Documents and the executed Closing Documents. 204
(e) The Mayor is authorized to deliver the executed and sealed Financing Documents and 205
Closing Documents, on behalf of the District, prior to or simultaneously with the issuance, sale, and 206
delivery of the Bonds, and to ensure the due performance of the obligations of the District contained 207
in the executed, sealed, and delivered Financing Documents and Closing Documents. 208
Sec. 9. Authorized delegation of authority. 209
To the extent permitted by District and federal laws, the Mayor may delegate to any 210
Authorized Delegate the performance of any function authorized to be performed by the Mayor 211
under this resolution. 212
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Sec. 10. Limited liability. 213
(a) The Bonds shall be special obligations of the District. The Bonds shall be without 214
recourse to the District. The Bonds shall not be general obligations of the District, shall not be a 215
pledge of, or involve the faith and credit or the taxing power of, the District, shall not constitute a 216
debt of the District, and shall not constitute lending of the public credit for private undertakings as 217
prohibited in section 602(a)(2) of the Home Rule Act. 218
(b) The Bonds shall not give rise to any pecuniary liability of the District and the District 219
shall have no obligation with respect to the purchase of the Bonds. 220
(c) Nothing contained in the Bonds, in the Financing Documents, or in the Closing 221
Documents shall create an obligation on the part of the District to make payments with respect to 222
the Bonds from sources other than those listed for that purpose in section 7. 223
(d) The District shall have no liability for the payment of any Issuance Costs or for any 224
transaction or event to be effected by the Financing Documents. 225
(e) All covenants, obligations, and agreements of the District contained in this resolution, 226
the Bonds, and the executed, sealed, and delivered Financing Documents and Closing Documents to 227
which the District is a party, shall be considered to be the covenants, obligations, and agreements of 228
the District to the fullest extent authorized by law, and each of those covenants, obligations, and 229
agreements shall be binding upon the District, subject to the limitations set forth in this resolution. 230
(f) No person, including, but not limited to, the Borrower and any Bond owner, shall have 231
any claims against the District or any of its elected or appointed officials, officers, employees, or 232
agents for monetary damages suffered as a result of the failure of the District or any of its elected or 233
appointed officials, officers, employees or agents to perform any covenant, undertaking, or 234
obligation under this resolution, the Bonds, the Financing Documents, or the Closing Documents, as 235
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a result of the incorrectness of any representation in or omission from the Financing Documents or 236
the Closing Documents, unless the District or its elected or appointed officials, officers, employees, 237
or agents have acted in a willful and fraudulent manner. 238
Sec. 11. District officials. 239
(a) Except as otherwise provided in section 10(f), the elected or appointed officials, officers, 240
employees, or agents of the District shall not be liable personally for the payment of the Bonds or be 241
subject to any personal liability by reason of the issuance, sale or delivery of the Bonds, or for any 242
representations, warranties, covenants, obligations, or agreements of the District contained in this 243
resolution, the Bonds, the Financing Documents, or the Closing Documents. 244
(b) The signature, countersignature, facsimile signature, or facsimile countersignature of 245
any official appearing on the Bonds, the Financing Documents, or the Closing Documents shall 246
be valid and sufficient for all purposes notwithstanding the fact that the individual signatory 247
ceases to hold that office before delivery of the Bonds, the Financing Documents, or the Closing 248
Documents. 249
Sec.12. Maintenance of documents. 250
Copies of the specimen Bonds and of the final Financing Documents and Closing 251
Documents shall be filed in the Office of the Secretary of State of the District of Columbia. 252
Sec.13. Information reporting. 253
Within 3 days after the Mayor’s receipt of the transcript of proceedings relating to the 254
issuance of the Bonds, the Mayor shall transmit a copy of the transcript to the Secretary to the 255
Council. 256
Sec. 14. Disclaimer. 257
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(a) The issuance of Bonds is in the discretion of the District. Nothing contained in this 258
resolution, the Bonds, the Financing Documents, or the Closing Documents shall be construed as 259
obligating the District to issue any Bonds for the benefit of the Borrower or to participate in or assist 260
the Borrower in any way with financing, refinancing, or reimbursing the costs of the Project. The 261
Borrower shall have no claims for damages or for any other legal or equitable relief against the 262
District, its elected or appointed officials, officers, employees, or agents as a consequence of any 263
failure to issue any Bonds for the benefit of the Borrower. 264
(b) The District reserves the right to issue the Bonds in the order or priority it determines in 265
its sole and absolute discretion. The District gives no assurance and makes no representations that 266
any portion of any limited amount of bonds or other obligations, the interest on which is excludable 267
from gross income for federal income tax purposes, will be reserved or will be available at the time 268
of the proposed issuance of the Bonds. 269
(c) The District, by adopting this resolution or by taking any other action in connection with 270
financing, refinancing, or reimbursing costs of the Project, does not provide any assurance that the 271
Project is viable or sound, that the Borrower is financially sound, or that amounts owing on the 272
Bonds or pursuant to the Loan will be paid. Neither the Borrower, any purchaser of the Bonds, nor 273
any other person shall rely upon the District with respect to these matters. 274
Sec. 15. Expiration. 275
If any Bonds are not issued, sold, and delivered to the original purchaser within 3 years of 276
the date of this resolution, the authorization provided in this resolution with respect to the issuance, 277
sale, and delivery of the Bonds shall expire. 278
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Sec. 16. Severability. 279
If any particular provision of this resolution, or the application thereof to any person or 280
circumstance is held invalid, the remainder of this resolution and the application of such provision 281
to other persons or circumstances shall not be affected thereby. If any action or inaction 282
contemplated under this resolution is determined to be contrary to the requirements of applicable 283
law, such action or inaction shall not be necessary for the purpose of issuing of the Bonds, and the 284
validity of the Bonds shall not be adversely affected. 285
Sec. 17. Compliance with public approval requirement. 286
This approval shall constitute the approval of the Council as required in section 147(f) of the 287
Internal Revenue Code of 1986, as amended (the “Code”), and section 490(k) of the Home Rule 288
Act, for the Project to be financed, refinanced, or reimbursed with the proceeds of the Bonds. 289
This resolution approving the issuance of the Bonds for the Project has been adopted by the 290
Council after a public hearing held in accordance with section 147(f) of the Code, as such section 291
may be amended, and the corresponding regulations promulgated by the United States 292
Department of the Treasury. 293
Sec. 18. Transmittal. 294
The Council shall transmit a copy of this resolution, upon its adoption, to the Mayor. 295
Sec. 19. Fiscal impact statement. 296
The Council adopts the fiscal impact statement of the committee report as the fiscal 297
impact statement required by section 4a of the General Legislative Procedures Act of 1975, 298
approved October 16, 2006 (120 Stat. 2038; D.C. Official Code § 1-301.47a). 299
Sec. 20. Effective date. 300
This resolution shall take effect immediately. 301
Harmony DC Public Charter School
Revenue Bond

FACT SHEET

Harmony DC Public Charter School (“Harmony DC”) has requested that the District issue up to
$17,000,000 of revenue bonds to provide for the financing or refinancing on a tax exempt basis
of all of the costs incurred in connection with the financing and refinancing of the acquisition,
improvement, equipping, furnishing and development of a new approximately 33,774 square foot
campus located at 2917 8th Street NE, in Ward 5.

The Applicant

Harmony DC currently serves approximately 184 students, with enrollment remaining stable
over recent years (182 in 2024-25 and 178 in 2023-24). The school employs 19 teachers,
maintaining a low student-to-teacher ratio of 9:1, and has a total of 41 full-time staff members,
including faculty and support personnel. Since opening in 2014, Harmony DC has built a strong
track record of academic performance, community engagement, and organizational stability.

In the 2023-24 and 2024-25 school years, Harmony DC achieved several notable successes. The
school earned accreditation from the Middle States Association and was recognized by
EmpowerK12 as one of the top 10 schools in Washington, DC for math growth in grades 3-5. It
is also ranked as the highest performing school under the OSSE rating system among high at-risk
schools in Wards 1, 5, and 6. Student growth data showed solid progress, particularly in
mathematics. The school hosted the DC Math Challenge in both years, increasing participation
from over 100 to more than 120 students. Academic outcomes also improved significantly, with
notable gains in both ELA and math proficiency and performance levels on state assessments.

Harmony DC stands out for its strong STEM focus, high-quality Tier 1 curriculum in math and
ELA, and integration within the broader Harmony Public Schools network, a nationally
recognized system known for closing achievement gaps and promoting STEM success. Students
benefit from specialized courses in engineering, coding, robotics, and science, along with
extensive academic support such as tutoring and enrichment programs. The school also
emphasizes project-based learning and hosts community-wide events like the DC STEM Festival
and DC Math Challenge. Notably, 94% of African American graduates from the Harmony
network pursue STEM majors in college, far exceeding the national average.

Demand for enrollment remains steady, as reflected in Harmony DC’s waitlist numbers: 35
students in 2022-23, 56 in 2023-24, 39 in 2024-25, and 49 in 2025-26.

Proposed Project

Harmony DC will use the bond proceeds to finance and refinance the costs of acquisition,
improvement, equipping, furnishing, and development of a new approximately 33,774 square
foot campus located at 2917 8th Street NE, together with parking facilities and other property,
real and personal, related thereto. The proposed project includes the cost of issuance, reserve
Harmony DC Public Charter School

2
funds, capitalized interest, interest rate swap termination costs, lease termination costs, credit
costs and working capital.

The school’s relocation was carefully planned over a five-year period during which
approximately 15 properties were evaluated. The selected site required primarily cosmetic
updates, such as painting and carpeting, and the relocation proposal was formally submitted in
September 2025 as part of a long-term strategy to secure a permanent home.

Financing Plan

A summary of the proposed sources and uses of funds is attached (see Table 1).

Feasibility/Structure/Security of the Bonds

Masterson Advisors LLC (“MALLC”) has reviewed the financial feasibility of Harmony DC in
connection with the proposed $17,000,000 revenue bond issuance. Based on an assessment of
Harmony DC’s financial position and financing needs, MALLC has deemed this transaction to
be financially feasible.

Legal and Regulatory Affairs

The law office of Orrick, Herrington & Sutcliffe is assigned as bond counsel to the Revenue
Bond Program and has preliminarily determined that Harmony DC is a 501(c)(3) organization,
and the project constitutes a permissible undertaking under Section 490(a)(1) of the District of
Columbia Home Rule Act.

Based upon the information outlined in the application, the Revenue Bond Program staff has
determined that the proposed project complies with the criteria for approval of a proposed
financing transaction through the District’s Revenue Bond Program and will assist Harmony DC
in furthering its organizational mission.

Harmony DC Public Charter School

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TABLE 1
PROPOSED SOURCES AND USES OF FUNDS

SOURCES OF FUNDS
Bond proceeds $17,000,000

Total Sources of Funds $17,000,000

USE OF FUNDS
Land and building acquisition $15,000,000
Renovations $1,500,000
Cost of issuance $250,000
Debt service reserve fund $250,000

Total Uses of Funds $17,000,000
GOVERNMENT OF THE DISTRICTOF COLUMBIA
OfficeoftheAttorneyGeneral
ww
aCommercialDivs‘TaxandFinanceSection a
MEMORANDUM
TO: William Liggins,Director
D.C.RevenueBond-EnterpriseZoneProgramOfficeoftheDeputyMayorforPlanningandEconomicDevelopment
FROM: ChristopherE.HughesJr.
AttorneyAdvisor
DATE: March20,2026
SUBJECT: Legal SufficiencyReview: Harmony DC PublicCharterSchools Revenue Bonds
ProjectApprovalResolutionof2026

Thisrespondstoarequestfromyourofficetoreviewforlegalsufficiencytheattacheddraftoftheabove-referencedproposedresolution.Forpurposesofthisreview,thisOfficepremisesitsconclusionontheassumptionthatyourofficehasdeterminedthattheBorrowerasdefinedintheaforementionedresolutionisa“qualifiedapplicant”withinthemeaningofSection490oftheDistrictofColumbiaHomeRuleAct.
A reviewoftheattacheddraftoftheabove-referencedproposedresolutionindicatesthatthedraftproposedresolutionconformswiththeModelRevenueBondResolutionjointlydraftedanddeterminedtobelegallysufficientbytheGeneralCounseloftheCouncil,theOfficeoftheAttomeyGeneral,andtheDistrict'sbondcounsel.Accordingly,wefindtheattacheddraftoftheabove-referencedproposedresolutionlegallysufficient.
Pleasecontactme at805-7440if you have furtherquestionsor concerns.
Attachments:HarmonyDCPublicCharterSchoolsRevenueBondsProjectApprovalResolutionof2026
Chustapher CMughae p-
ChristopherE. Hughes Jr.
AttorneyAdvisor

‘400SixthStreet,NW,Suite10100Washington,DC 20001(202)805-7440