The resolution proposed by the Chief Financial Officer of the District of Columbia seeks the Council's emergency approval to borrow a total of $1,809,820,675 through the issuance of income tax secured bonds, general obligation bonds, or notes. These funds are earmarked for various capital projects that have already been approved in the District's Capital Improvement Plan. The resolution outlines the specific projects that will benefit from this borrowing, which includes improvements to school facilities, public libraries, transportation, and various support facilities, among others. The funds will be managed in accordance with existing laws and regulations governing bond issuance.

Additionally, the resolution authorizes the Chief Financial Officer to determine the specific type of bonds or notes to be issued and allows for the possibility of issuing temporary obligations if necessary. It also stipulates that any excess funds allocated to an agency for a specific project can be redirected to finance other approved capital projects. The resolution is designed to ensure that the District can effectively manage its capital improvement needs while adhering to legal requirements, and it is set to take effect immediately upon adoption.