The St. Patricks Episcopal Day School Revenue Bonds Project Approval Resolution of 2026 authorizes the issuance of up to $35.5 million in revenue bonds by the District of Columbia to support a project at St. Patricks Episcopal Day School. This project encompasses the construction of a new middle school facility, enhancements to existing campuses, and the acquisition of necessary equipment and property. The resolution delineates the responsibilities of various officials, including the Mayor and bond counsel, and establishes the framework for the issuance, sale, and delivery of the bonds, as well as the loan of proceeds to the school. Importantly, the bonds are classified as special obligations of the District, meaning they do not draw from the District's general funds or taxing power and do not constitute a debt of the District.

The resolution also clarifies that District officials will not be personally liable for the bonds or any related agreements, and it ensures that the validity of signatures on the bonds remains intact even if the signatory is no longer in office at the time of delivery. It emphasizes that the issuance of bonds is at the District's discretion and does not obligate the District to issue bonds for the benefit of the Borrower or guarantee the project's viability. Additionally, the resolution includes provisions for document maintenance, information reporting, and compliance with public approval requirements, with an expiration clause stating that if bonds are not issued within three years, the authorization will lapse. The resolution takes effect immediately upon adoption and includes a fiscal impact statement as mandated by law.