§ 1-204.65. Issuance of general obligation bonds.

Current through October 23, 2012

(a) After an act of the Council authorizing the issuance of general obligation bonds under § 1-204.61(a) takes effect, the Mayor may issue such general obligation bonds as authorized by such act of the Council. An issue of general obligation bonds may be all or any part of the aggregate principal amount of bonds authorized by such act.

(b) The principal amount of the general obligation bonds of each issue shall be payable in annual installments beginning not more than 3 years after the date of such bonds and ending not more than 30 years after such date.

(c) The general obligation bonds of each issue shall be executed by the manual or facsimile signature of such officials as may be designated to sign such bonds by the act of the Council authorizing the issuance of the bonds, except that at least 1 such signature shall be manual. Coupons attached to the bonds shall be authenticated by the facsimile signature of the Mayor unless the Council provides otherwise.

                
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(Dec. 24, 1973, 87 Stat. 805, Pub. L. 93-198, title IV, § 465; Aug. 29, 1974, 88 Stat. 793, Pub. L. 93-395, § 1(5); Dec. 23, 1981, 95 Stat. 1493, Pub. L. 97-105, § 8.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 47-325.

1973 Ed., § 47-245.