The resolution, titled the Society for Science and the Public Revenue Bonds Project Emergency Declaration Resolution of 2025, declares an emergency to authorize the issuance of up to $25 million in District of Columbia revenue bonds. The funds from these bonds will be loaned to Society 1776 Mass Ave LLC, a limited liability company owned by the Society for Science and the Public, to finance various costs associated with the acquisition, redevelopment, and renovation of a property located at 1776 Massachusetts Avenue, NW, Washington, DC. The financing will also cover interest payments on the bonds, contributions to a debt service reserve fund, and certain issuance costs.

The Council emphasizes the urgency of this resolution due to current economic uncertainties in the financial markets, which could hinder the Borrower's ability to market the bonds effectively or secure favorable interest rates. By expediting the bond issuance process, the Council aims to ensure that the project can proceed without delays, ultimately providing significant savings for the Borrower and facilitating the completion of the planned redevelopment project. The resolution is set to take effect immediately upon adoption.