§ 2-1217.34f. Issuance of the Bonds.

Current through October 23, 2012

(a) The Bonds of any series may be sold at negotiated upon terms that the Mayor considers to be in the best interests of the District.

(b) The Bonds also may be issued as a TIF note to the Development Sponsor and may be held and used as security for debt incurred or to be incurred by the Development Sponsor, an agent of the Development Sponsor, or another party selected by the Development Sponsor.

(c) The Mayor or an Authorized Delegate may execute, in connection with each sale of the Bonds, offering documents on behalf of the District, may deem final any such offering document on behalf of the District for purposes of compliance with federal laws and regulations governing such matters, and may authorize the distribution of the documents in connection with the sale of the Bonds.

(d) The Mayor is authorized to deliver executed and sealed Bonds, on behalf of the District, for authentication, and, after the Bonds have been authenticated, to deliver the Bonds to the original purchasers of the Bonds upon payment of the purchase price.

(e) The Bonds shall not be issued until the Mayor receives an approving opinion from Bond Counsel as to the validity of the Bonds of such series and, if the interest on the Bonds is expected to be exempt from federal income taxation, the treatment of the interest on the Bonds for purposes of federal income taxation.

(f) Chapter 3A of this title and subchapter III of Chapter 3 of Title 47 shall not apply to any contract that the Mayor may from time to time enter into, or the Mayor may determine to be necessary or appropriate, for purposes of this subpart.

                
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(Dec. 7, 2010, D.C. Law 18-275, § 7, 57 DCR 9873; Sept. 26, 2012, D.C. Law 19-171, § 222, 59 DCR 6190.)

HISTORICAL AND STATUTORY NOTES

Effect of Amendments

D.C. Law 19-171, in subsec. (f), substituted "Chapter 3A of this title" for "Unit A of Chapter 3 of this title".

Emergency Act Amendments

For temporary (90 day) addition, see § 7 of Howard Theatre Redevelopment project Great Streets Initiative Tax Increment Financing Emergency Act of 2010 (D.C. Act 18-516, August 3, 2010, 57 DCR 7971).

For temporary (90 day) addition, see § 7 of Howard Theatre Redevelopment Project Great Streets Initiative Tax Increment Financing Congressional Review Emergency Act of 2010 (D.C. Act 18-573, October 19, 2010, 57 DCR 10090).

Legislative History of Laws

For history of Law 18-275, see notes under § 2-1217.34a.

For history of Law 19-171, see notes under § 2-218.13.