§ 42-2704.08. Faith and credit and taxing power of District not pledged on obligation; statement thereto.
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Current through October 23, 2012
Bonds, notes, and other obligations issued under the provisions of this chapter do not constitute an obligation of the District, but are payable solely from the revenues or assets of the Agency. Each bond, note, or other obligation issued under this chapter must contain on its face a statement that the Agency is not obligated to pay principal or interest except from the revenues or assets pledged and that neither the faith and credit nor the taxing power of the District is pledged to the payment of the principal or interest on a bond, note, or other obligation.
(Mar. 3, 1979, D.C. Law 2-135, § 408, 25 DCR 5008; Apr. 20, 1999, D.C. Law 12-247, § 2(s), 46 DCR 1100.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 45-2138.
1973 Ed., § 45-1923.
Legislative History of Laws
For legislative history of D.C. Law 2-135, see Historical and Statutory Notes following § 42-2701.01.
For legislative history of D.C. Law 12-247, see Historical and Statutory Notes following § 42-2701.01.
