The resolution declares an emergency to authorize the issuance of up to $25 million in District of Columbia revenue bonds to assist Cesar Chavez Public Charter Schools for Public Policy. The funds from these bonds will be used for refinancing a previous loan, financing capital expenditures for the construction and renovation of educational facilities, covering working capital costs, and paying for issuance costs related to the bonds. The urgency of this resolution is underscored by the impending expiration of a term sheet with a prospective bank lender, which could lead to renegotiation and additional financial burdens if the resolution is not approved promptly.

The Council of the District of Columbia recognizes that the circumstances surrounding the financing needs of the charter school constitute an emergency, necessitating immediate action to ensure the timely availability of funds. By adopting this resolution, the Council aims to facilitate the completion of the project and provide financial savings for the Borrower, thereby supporting the educational infrastructure in the District. The resolution is effective immediately upon adoption.