D.C. Preparatory Academy Revenue Bonds Project Approval Resolution of 2024

This resolution authorizes the District of Columbia to issue up to $45 million in revenue bonds to assist D.C. Preparatory Academy, a public charter school, with financing needs. The funds will be used to renovate and equip a school facility, refinance existing debt, cover working capital costs, and pay for issuance expenses related to the project. The legislation defines the school as the borrower responsible for repaying the loan and outlines the specific project components, including work at two locations in Southeast Washington. By approving this financial mechanism, the Council enables the school to secure necessary capital for its infrastructure and operational requirements under existing Home Rule Act provisions.