Source: https://development.code.dccouncil.us/dc/council/code/sections/42-2812.03.html
Timestamp: 2019-04-25 06:26:37+00:00

Document:
D.C. Law Library - § 42–2812.03. Bond authorization for New Community Initiative neighborhoods, including Sursum Corda.
↪ § 42–2812.03. Bond authorization for New Community Initiative neighborhoods, including Sursum Corda.
§ 42–2812.03. Bond authorization for New Community Initiative neighborhoods, including Sursum Corda.
(2) Any other area that has been approved by the Council pursuant to the New Communities Initiative.
(b) The bonds, which may be issued from time to time, in one or more series, which shall be tax-exempt or taxable as the Mayor shall determine, shall be payable solely from and secured by monies deposited in the Allocated Fund; provided, that the total amount of funds allocated annually to pay debt service on the bonds shall not exceed $16 million.
(c) The Mayor is authorized to pay from the proceeds of the bonds the costs and expenses of issuing and delivering the bonds, including, but not limited to, underwriting, legal, accounting, financial advisory, bond insurance or other credit enhancement, marketing and selling the bonds, and printing costs and expenses.
(7) An analysis of the synergies to be achieved through the allocation of public and private investments in human and physical capital, and their combined contribution to enhancement of the project’s economic feasibility.
(3) Notwithstanding the provisions of this subsection, refunding bonds and notes payable from and secured by the Allocated Fund may be issued to refund bonds issued under this chapter if such refunded bonds and notes were issued before May 1, 2013.
(H) Estimated completion date of construction.
(J) Income mix by Area Median Income.
This section is referenced in § 42-2802, § 42-2812.06, § 42-2812.09, and § 47-340.26.
D.C. Law 16-192, in subsec. (b), substituted “$12 million” for “$6 million”.
D.C. Law 17-20, in subsec. (b), substituted “$16 million” for “12 million”.
The 2013 amendment by D.C. Law 20-61 added (e); and added the subsection designated herein as (f).
The 2014 amendment by D.C. Law 20-117 rewrote (e); validated a previously made technical correction in (f); and substituted “By April 1, 2014” for “On an annual basis” in (f).
For temporary (90 days) amendment of this section, see § 2 of New Communities Bond Authorization Emergency Amendment Act of 2018 (D.C. Act 22-529, Dec. 10, 2018, 65 DCR 13433).
For temporary (90 day) addition, see § 2172(c) of Fiscal Year 2006 Budget Support Emergency Act of 2005 (D.C. Act 16-168, July 26, 2015, 52 DCR 7667).
For temporary (90 days) amendment of this section, see §§ 2122(b) and 9018 of the Fiscal Year 2014 Budget Support Emergency Act of 2013 (D.C. Act 20-130, July 30, 2013, 60 DCR 11384, 20 DCSTAT 1827).
For temporary (90 days) amendment of this section, see §§ 2122(b) and 9018 of the Fiscal Year 2014 Budget Support Congressional Review Emergency Act of 2013 (D.C. Act 20-204, October 17, 2013, 60 DCR 15341, 20 DCSTAT 2311).
Section 2121 of D.C. Law 20-61 provided that Subtitle M of Title II of the act may be cited as the “Housing Production Trust Fund Securitization Amendment Act of 2013”.
Section 9011 of D.C. Law 20-61 provided that Title IX of the act may be cited as the “Council Reporting Requirements Act of 2013”.
For approval of the Northwest One Redevelopment Plan and authorization of the Mayor to exercise eminent domain authority in the area bounded by North Capitol Street, N.E., K Street, N.E., New Jersey Avenue, N.E., and New York Avenue, N.E., see the Northwest One/Sursum Corda Affordable Housing Protection, Preservation and Production Act of 2006, effective November 16, 2006 (D.C. Law 16-188; 53 DCR 6750).
Delegation of authority to Acquire Certain Real Estate in the District of Columbia, see Mayor’s Order 2007-81, April 2, 2007 ( 54 DCR 7810).
Resolution 16-654, the “Northwest One/Sursum Corda Cooperative Approval Resolution of 2006”, was approved effective June 7, 2006.
Resolution 17-315, the “Barry Farm/Park Chester/Wade Road and Lincoln Heights/Richardson Dwellings New Communities Initiative Combined Emergency Approval Resolution of 2007”, was approved effective July 10, 2007.

References: § 42
 § 42

§ 42
 § 42
 § 42
 § 42
 § 47
 § 2
 § 2172