The D.C. Preparatory Academy Revenue Bonds Project Approval Resolution of 2026 authorizes the issuance of up to $25 million in revenue bonds to finance a public charter school facility project in Washington, D.C. The funds will be utilized for the acquisition, renovation, and equipping of a 42,000 square foot school facility located at 711 Edgewood Street, NE, as well as covering working capital costs and interest on the bonds. The resolution empowers the Mayor to oversee the sale and delivery of these bonds while outlining the roles and responsibilities of various officials in ensuring compliance with financing terms. Importantly, the bonds will be special obligations of the District, limiting the District's liability and ensuring no recourse to its general funds or taxing power.

Additionally, the resolution stipulates that elected or appointed officials will not be personally liable for the bonds or related obligations, and it ensures the validity of signatures on the bonds even if the signatory is no longer in office. It also clarifies that the issuance of bonds is at the District's discretion and does not guarantee the project's viability or the financial soundness of the borrower. The resolution includes provisions for expiration if the bonds are not issued within three years, a severability clause, and compliance with public approval requirements, taking effect immediately upon adoption.