The resolution, titled the Fiscal Year 2026 Income Tax Secured Revenue Bond, General Obligation Bond, and General Obligation and Income Tax Secured Bond Anticipation Note Issuance Authorization Emergency Declaration Resolution of 2025, declares an emergency regarding the District of Columbia's need to borrow funds. It authorizes the issuance and sale of income tax secured bonds and notes, as well as general obligation bonds and notes, with a total principal amount not exceeding $1,809,820,675. The resolution emphasizes the urgency of this action to allow the District to capitalize on favorable market conditions for funding capital projects approved in the Fiscal Year 2026 Budget and Financial Plan.

The Council of the District of Columbia recognizes that the circumstances necessitate immediate action to ensure timely bond issuance. This emergency legislation aims to provide necessary funding or reimburse the District for previously expended funds on capital projects. The resolution is effective immediately upon adoption, underscoring the critical nature of the financial measures being taken.