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District of ColumbiaPR26-0355Council Period 26 (2025-2026)HouseWALLET

Richard Wright Public Charter School Revenue Bonds Project Approval Resolution of 2025

Sponsored By: Sponsor information unavailable

Adopted

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Bill Overview

Analyzed Economic Effects

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

No taxpayer backing for school bonds

The bonds are special, non‑recourse obligations. The District’s general funds and taxes do not back them. Payments come only from project sources, like bond proceeds, invested earnings, loan revenues, and other money in the financing documents. District officials are not personally liable unless they act with willful fraud. The District has no duty to buy the bonds or pay issuance costs.

DC approves bonds for Richard Wright School

The law lets DC issue revenue bonds and loan up to $22,000,000 to Richard Wright Public Charter School. Money can refinance old debt, build, equip, and renovate the school, and cover working capital and issuance costs. The Council’s approval meets federal rules so interest can be tax‑exempt. The Mayor or delegates set the final rates, maturities, and redemption terms, and may use credit support. Bonds may be sold by negotiated or competitive sale and can be refinanced, as long as total outstanding stays within $22,000,000. A trustee holds and disburses proceeds and collateral under the financing documents. Bond counsel must give an approving opinion. The authorization expires if no bonds are issued within 3 years.

School must pay bond program fees

The Mayor can charge the school a program fee for each bond series. The fee covers District costs to issue, sell, and monitor the bonds, keep records, and help with redemption or remarketing. This raises the school’s cost of borrowing.

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

  • Phil Mendelson

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 13 • No: 0

House vote • 11/18/2025

Final Reading, CC

Yes: 13 • No: 0

Actions Timeline

  1. Resolution R26-0255, Effective from Nov 18, 2025 Published in DC Register Vol 72 and Page 013122

    11/28/2025House

  2. Approved with Resolution Number R26-0255

    11/18/2025House

  3. Legislative Meeting

    11/18/2025House

  4. Committee Mark-up of PR26-0355 by the Business and Economic Development Committee

    11/12/2025House

  5. Roundtable on PR26-0355

    10/29/2025House

  6. Notice of Roundtable Published in the District of Columbia Register

    10/24/2025House

  7. Notice of Intent to Act on PR26-0355 Published in the District of Columbia Register

    10/24/2025House

  8. Notice of Roundtable filed in the Office of Secretary

    10/21/2025House

  9. Referred to Committee on Business and Economic Development

    10/21/2025House

  10. PR26-0355 Introduced by Chairman Mendelson at Office of the Secretary

    10/17/2025House

Bill Text

  • Enrollment

    11/18/2025

    PDF

  • Introduced

    10/17/2025

    PDF

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