Title II, Subtitle A
‘‘(i) IN
GENERAL.—Except as pro-
vided in clause (iii), if the conditions de-
scribed in clause (ii) are satisfied, each ad-
vance made under this subsection shall be
in the amount designated by the Mayor in
the Mayor’s requisition for such advance.
‘‘(ii) CONDITIONS
APPLICABLE
TO
DESIGNATED AMOUNT.— Clause (i) applies
if the Mayor determines that the amount
designated in the Mayor’s requisition for
such advance is needed to accomplish the
purpose described in paragraph (1), and
the Authority approves such amount.
‘‘(iii) AGGREGATE MAXIMUM AMOUNT
OUTSTANDING.—The sum of the antici-
pated principal and interest requirements
of all advances made under this paragraph
may not be greater than 100 percent of
the fiscal year 1997 limit.
‘‘(iv) FISCAL
YEAR
1997
LIMIT
DE-
SCRIBED.—In this subparagraph, the ‘fis-
cal year 1997 limit’ means the amount au-
thorized to be appropriated to the District
of Columbia as the annual Federal pay-
ment to the District of Columbia under
Title II, Subtitle A
title V of the District of Columbia Self-
Government and Governmental Reorga-
nization Act for the fiscal year ending Sep-
tember 30, 1997.
‘‘(D) DEPOSIT
OF
ADVANCES.—As pro-
vided in section 204(b) of the District of Co-
lumbia Financial Responsibility and Manage-
ment Assistance Act of 1995, each advance
made under this subsection for the account of
the District shall be deposited by the Secretary
into an escrow account held by the Authority.
‘‘SEC. 602. SHORT-TERM ADVANCES FOR SEASONAL CASH-
FLOW MANAGEMENT.
‘‘(a) IN GENERAL.—If the conditions in subsection
(b) are satisfied, the Secretary shall make an advance of
funds from time to time, out of any money in the Treasury
not otherwise appropriated, for the purpose of assisting
the District government in meeting its general expendi-
tures, as authorized by Congress, at times of seasonal
cash-flow deficiencies.
‘‘(b) CONDITIONS TO MAKING ANY SHORT-TERM AD-
VANCE.—The Secretary shall make an advance under this
section if—
‘‘(1) the Mayor delivers to the Secretary a req-
uisition for an advance under this section;
Title II, Subtitle A
‘‘(2) the date on which the requisitioned ad-
vance is to be made is in a control period;
‘‘(3) the Authority certifies to the Secretary
that—
‘‘(A) the District government has prepared
and submitted a financial plan and budget for
the District government;
‘‘(B) there is an approved financial plan
and budget in effect under the District of Co-
lumbia Financial Responsibility and Manage-
ment Assistance Act of 1995 for the fiscal year
for which the requisition is to be made;
‘‘(C) at the time of the Mayor’s requisition
for an advance, the District government is in
compliance with the financial plan and budget;
‘‘(D) both the receipt of funds from such
advance and the reimbursement of Treasury for
such advance are consistent with the financial
plan and budget for the year; and
‘‘(E) such advance will not adversely affect
the financial stability of the District govern-
ment;
‘‘(4) the Authority certifies to the Secretary, at
the time of the Mayor’s requisition for an advance,
that the District government is effectively unable to
Title II, Subtitle A
obtain credit in the public credit markets or else-
where in sufficient amounts and on sufficiently rea-
sonable terms to meet the District government’s fi-
nancing needs;
‘‘(5) the Inspector General of the District of
Columbia certifies to the Secretary the information
described in paragraph (3) by providing the Sec-
retary with a certification conducted by an outside
auditor under a contract entered into pursuant to
section 208(a)(4) of the District of Columbia Pro-
curement Practices Act of 1985;
‘‘(6) the Secretary receives such additional cer-
tifications and opinions relating to the financial posi-
tion of the District government as the Secretary de-
termines to be appropriate from such other Federal
agencies and instrumentalities as the Secretary de-
termines to be appropriate; and
‘‘(7) the Secretary determines that there is rea-
sonable assurance of reimbursement for the advance
from the amount authorized to be appropriated as
the annual Federal payment to the District of Co-
lumbia under title V of the District of Columbia
Self-Government and Governmental Reorganization
Act for the fiscal year following the fiscal year in
which such advance is made.
Title II, Subtitle A
‘‘(c) AMOUNT OF ANY SHORT-TERM ADVANCE.—
‘‘(1) IN GENERAL.—Except as provided in para-
graph (3), if the conditions in paragraph (2) are sat-
isfied, each advance made under this section shall be
in the amount designated by the Mayor in the May-
or’s requisition for such advance.
‘‘(2) CONDITIONS APPLICABLE TO DESIGNATED
AMOUNT.—Paragraph (1) applies if—
‘‘(A) the Mayor determines that the
amount designated in the Mayor’s requisition
for such advance is needed to accomplish the
purpose described in subsection (a); and
‘‘(B) the Authority—
‘‘(i) concurs in the Mayor’s deter-
mination under subparagraph (A); and
‘‘(ii) determines that the reimburse-
ment obligation of the District government
for an advance made under this section in
the amount designated in the Mayor’s req-
uisition is consistent with the financial
plan for the year.
‘‘(3) MAXIMUM AMOUNT OUTSTANDING.—
‘‘(A) IN GENERAL.—Notwithstanding para-
graph (1), the unpaid principal balance of all
advances made under this section in any fiscal
Title II, Subtitle A
year of the District government shall not at any
time be greater than 100 percent of applicable
limit.
‘‘(B) SPECIAL
RULE
FOR
FISCAL
YEAR
1997.—The unpaid principal balance of all ad-
vances made under this section in fiscal year
1997 of the District government shall not at
any time be greater than the difference be-
tween—
‘‘(i) 150 percent of the applicable
limit for such fiscal year; and
‘‘(ii) the unpaid principal balance of
any advances made under section 601(d).
‘‘(C) APPLICABLE
LIMIT
DEFINED.—In
this paragraph, the ‘applicable limit’ for a fiscal
year is the amount authorized under title V of
the District of Columbia Self-Government and
Governmental Reorganization Act for appro-
priation as the Federal payment to the District
of Columbia for the fiscal year following the fis-
cal year in which the advance is made.
‘‘(d) MATURITY OF ANY SHORT-TERM ADVANCE.—
‘‘(1) IN GENERAL.—Except as provided in para-
graph (3), if the condition in paragraph (2) is satis-
fied, each advance made under this section shall ma-