Finance & Revenue: Various Bills (June 25)
Bill 19-577, the “Meridian Public Charter School – Harrison Campus Property Tax Exemptions Amendment Act of 2011” would amend Chapter 10 of Title 47 of the District of Columbia Official Code to exempt from taxation certain property owned or ground leased by Meridian Public Charter School, a non-profit corporation, or by Meridian–Harrison QALICB, Inc. a non-profit corporation.
PR 19-710, the “Wesley Theological Seminary Revenue Bonds Project Approval Resolution of 2012” would authorize and provide for the issuance, sale, and delivery in an aggregate principal amount not to exceed $25 million of District of Columbia revenue bonds in one or more series, pursuant to a plan of finance, and to authorize and provide for the loan of the proceeds of such bonds to assist the Wesley Theological Seminary, in the financing, refinancing, or reimbursing of costs associated with an authorized project pursuant to section 490 of the District of Columbia Home Rule Act. The project is located at 4500 Massachusetts Avenue, NW (Square 1600 Lots 006 thru 009), and 908 Massachusetts Avenue, N.W. (Square 371 Lot 2005), in Ward 3 and Ward 2, respectively.
PR 19-712, the “American Educational Research Association Refunding Revenue Bonds Project Approval Resolution of 2012” would authorize and provide for the issuance, sale, and delivery in an aggregate principal amount not to exceed $7.3 million of District of Columbia revenue bonds in one or more series, pursuant to a plan of finance, and to authorize and provide for the loan of the proceeds of such bonds to assist the American Educational Research Association in the financing, refinancing, or reimbursing of costs associated with an authorized project pursuant to section 490 of the District of Columbia Home Rule Act. The issuance will be used to refund the 1998 Bond issuance in tax-exempt revenue bonds that was used to finance, refinance or reimburse the Borrower for costs of acquiring, constructing, renovating, equipping, furnishing, and paying related costs of certain facilities located at 1430 K Street, N.W., Washington, DC (Square 218, Lots 2012, 2103 (formerly Lot 81)).
PR 19-726, the “Friendship Public Charter School, Inc. Revenue Bonds Project Approval Resolution of 2012” would authorize and provide for the issuance, sale, and delivery in an aggregate principal amount not to exceed $110 million of District of Columbia revenue bonds in one or more series, pursuant to a plan of finance, and to authorize and provide for the loan of the proceeds of such bonds to assist Friendship Public Charter School, Inc., in the financing, refinancing, or reimbursing of costs associated with an authorized project pursuant to section 490 of the District of Columbia Home Rule Act. The project is located on a corner lot at 642 Milwaukee Place, and 2705 Martin Luther King Jr. Avenue, SE, in Ward 8.
Bill 19-789, the “Fiscal Year 2013 Tax Revenue Anticipation Notes Act of 2012” would authorize the issuance of the District of Columbia general obligation tax revenue anticipation notes to finance general governmental expenses for the fiscal year ending September 30, 2013
