District of ColumbiaPR26-0158Council Period 26 (2025-2026)HouseWALLET

Maret School, Inc. Revenue Bonds Project Emergency Approval Resolution of 2025

Sponsored By: Phil Mendelson (Democratic)

Became Law

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 1 costs, 0 mixed.

Bonds not backed by District taxes

The bonds are special obligations and do not pledge the District’s faith, credit, or taxing power. Payments come only from bond proceeds, investment income, loan repayments, and other financing‑document funds. The District is not liable for issuance costs and does not have to buy the bonds. Officials are not personally liable unless they act willfully and fraudulently, and signatures remain valid even if a signer leaves office. Effective April 1, 2025.

District approves $37 million Maret School bonds

Effective April 1, 2025, the District authorizes up to $37 million in revenue bonds for Maret School projects and refinancing. The Council’s approval meets federal public‑approval rules for potential tax‑exempt bonds. The Mayor or delegates set final terms and may sell the bonds by negotiation or competition. Bonds are not issued until bond counsel gives an approving opinion on validity and, if applicable, tax exemption. The Mayor may issue refunding bonds, and any unissued authority expires three years after adoption.

District fee charged to Maret School

Beginning April 1, 2025, the Mayor can charge Maret School a program fee to cover bond issuance and monitoring costs. The law does not set the fee amount. This raises the borrower’s costs and applies only to the school.

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 • 4/1/2025

Final Reading