The Georgetown University Revenue Bonds Project Emergency Declaration Resolution of 2025 authorizes the issuance of up to $675 million in District of Columbia revenue bonds to assist Georgetown University in financing various projects. The funds will be used to refund existing bonds, finance the construction and renovation of facilities, upgrade technology infrastructure, and provide working capital. Specific projects include the construction of a new science center, renovations of existing facilities, and the development of new academic buildings. The resolution emphasizes the urgency of expediting the bond issuance process due to current economic uncertainties in the financial markets.
The Council of the District of Columbia recognizes the need for immediate action to ensure that Georgetown University can secure favorable interest rates and complete its planned projects without delay. The resolution is deemed an emergency measure, allowing it to be adopted after a single reading and taking effect immediately. This swift approval aims to provide critical funding for the university's ongoing and future development needs.