Source: https://development.code.dccouncil.us/dc/council/code/sections/10-1602.02.html
Timestamp: 2019-04-24 06:28:58+00:00

Document:
D.C. Law Library - § 10–1602.02. Creation of Community Benefit Fund.
↪ Subchapter II. Community Benefit Fund Associated with Ballpark.
↪ § 10–1602.02. Creation of Community Benefit Fund.
§ 10–1602.02. Creation of Community Benefit Fund.
(a)(1) There is hereby established within the General Fund of the District of Columbia, a segregated, nonlapsing special revenue fund to be denominated as the Community Benefit Fund. The Chief Financial Officer of the District of Columbia shall pay into the Community Benefit Fund all receipts from those fees and taxes specifically identified by any provision of District of Columbia law to be paid into the fund.
(2) The Chief Financial Officer of the District of Columbia shall create a sub-account within the Community Benefit Fund for each type of fee and tax that is to be paid into the fund and shall allocate the receipts from each type of fee and tax to the appropriate sub-account. The Mayor, or any District government agency or instrumentality which has been designated by the Mayor, may pledge and create a security interest in the funds in the Community Benefit Fund, or any sub-account or sub-accounts within the fund for the payment of the costs of carrying out any of the purposes described in subsection (b) of this section, the payment of the debt service on any bonds or other evidence of indebtedness issued by the District, or any District government agency or instrumentality, or any of the purposes described in subsection (b) of this section, without further action as permitted by § 1-204.90(f).
(3) If bonds or other evidence of indebtedness are issued, the payment shall be made in accordance with the provisions of the documents entered into by the District or any District agency or instrumentality in connection with the issuance of the bonds or other evidence of a security interest created pursuant to this subsection shall be valid, binding, and perfected from the time the security interest is created, with or without the physical delivery of any funds or any other property and with or without further action. The security interest shall be valid, binding, and perfected whether or not any statement, document, or instrument relating to the security interest is recorded or filed. The lien created by the security interest is valid, binding, and perfected with respect to any person (as defined in § 47-2001(i)) having claims against the District, whether or not the person has notice of the lien.
(9) An amount not to exceed $45 million shall be made available for capital improvements for public neighborhood libraries in the District of Columbia.
(c) This section shall apply upon the inclusion of its fiscal effect in an approved budget and financial plan.
This section is referenced in § 2-1217.12, § 10-1601.34, and § 10-1602.03.
D.C. Law 18-111, in subsec. (b)(2), substituted “Washington Convention and Sports Authority” for “Sports and Entertainment Commission”.
For temporary (90 day) amendment of section, see § 2082(m)(2) of Fiscal Year 2010 Budget Support Second Emergency Act of 2009 (D.C. Act 18-207, October 15, 2009, 56 DCR 8234).
For temporary (90 day) amendment of section, see § 2082(m)(2) of Fiscal Year Budget Support Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-260, January 4, 2010, 57 DCR 345).
For temporary (90 day) amendment of section, see § 8022 of Fiscal Year 2012 Budget Support Emergency Act of 2011 (D.C. Act 19-93, June 29, 2011, 58 DCR 5599).
Short title: Section 8131 of D.C. Law 19-21 provided that subtitle N of title VIII of the act may be cited as “Community Benefits Fund Amendment Act of 2011”.

References: § 10
 § 10

§ 10
 § 1
 § 47
 § 2
 § 10
 § 10
 § 2082
 § 2082
 § 8022