District of ColumbiaPR26-0034Council Period 26 (2025-2026)HouseWALLET

National Links Trust Inc. Revenue Bonds Project Approval Resolution of 2025

Sponsored By: Phil Mendelson (Democratic)

Became Law

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 3 benefits, 0 costs, 2 mixed.

Bond sale and closing rules

The bonds can be sold by negotiated or competitive sale at, above, or below face value. Before any sale, Bond Counsel must give an approving opinion on validity and, if tax-exempt, on federal tax treatment. The Mayor can sign financing and closing documents and may approve the form of others. The Mayor may delegate these tasks to authorized officials.

Public approvals and records for bonds

The Council gives the approval required by federal tax law after a public hearing. Copies of specimen bonds and final financing and closing documents are filed with the Office of the Secretary. Within three days of getting the transcript of proceedings, the Mayor sends a copy to the Council Secretary.

Up to $80 million for DC golf upgrades

The law lets the District issue up to $80 million in revenue bonds. The Mayor loans the money to National Links Trust, a DC nonprofit. Funds pay to renovate and equip three golf course sites at 6100 16th St NW, 2600 Benning Rd NE, and 972 Ohio Drive SW. Money can also cover equipment, some working capital, interest reserves, and issuance costs. The law took effect March 4, 2025.

Bonds not backed by DC taxes

These bonds are special obligations paid only from pledged funds and loan revenues. They are not general obligations and do not pledge the District’s faith, credit, or taxing power. Claims for money against the District are barred except for willful and fraudulent acts. Payment sources and security are set in the financing documents.

Refunding allowed and 3-year deadline

The District may issue refunding bonds to refinance this project’s bonds. At any time, total principal outstanding cannot exceed the $80 million cap. If no authorized bonds are issued, sold, and delivered within three years, the authorization expires on March 4, 2028.

Sponsors & Cosponsors

Sponsor

Phil Mendelson
Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 12 • No: 0

House vote • 3/4/2025

Final Reading