Source: https://development.code.dccouncil.us/dc/council/code/sections/47-335.01.html
Timestamp: 2019-04-23 20:27:06+00:00

Document:
D.C. Law Library - § 47–335.01. Borrowing of funds for capital projects.
↪ § 47–335.01. Borrowing of funds for capital projects.
§ 47–335.01. Borrowing of funds for capital projects.
The Mayor shall not borrow any funds for capital projects unless the Mayor has obtained prior approval from the Council, by resolution, identifying the projects and amounts to be financed with such borrowings. In determining the amounts to be financed, the Mayor shall consult with the Chief Financial Officer to determine if any funds appropriated for Debt Service, as defined in § 47-334(1), in excess of Debt Service requirements are available to reduce the amount of borrowing for the next bond issuance.
The 2015 amendment by D.C. Law 20-155 added the last sentence.
For temporary (90 day) authorization to borrow funds for capital projects through the issuance of general obligation bonds, see § 2 of Fiscal Year 2005 General Obligation Bond Issuance Emergency Approval Act of 2004 (D.C. Act 15-593, October 26, 2004, 51 DCR 10734).
For temporary (90 day) addition of section, see § 3 of Fiscal Year 2011 Income Tax Secured Revenue Bond and General Obligation Bond Issuance Emergency Approval Act of 2010 (D.C. Act 18-607, November 17, 2010, 57 DCR 11054).
For temporary (90 days) amendment of this section, see § 1043(c) of the Fiscal Year 2015 Budget Support Emergency Act of 2014 (D.C. Act 20-377, July 14, 2014, 61 DCR 7598, 20 STAT 3696).
For temporary (90 days) amendment of this section, see § 1043(c) of the Fiscal Year 2015 Budget Support Congressional Review Emergency Act of 2014 (D.C. Act 20-449, October 10, 2014, 61 DCR 10915, 20 STAT 4188).
For temporary (90 days) amendment of this section, see § 1043(c) of the Fiscal Year 2015 Budget Support Second Congressional Review Emergency Act of 2014 (D.C. Act 20-566, January 9, 2015, 62 DCR 884, 21 STAT 541).
“Sec. 3. (a) Pursuant to section 3302 of the Fiscal Year 2001 Budget Support Act of 2000, effective October 19, 2000 (D.C. Law 13-172; D.C. Official Code § 47-335.01), the Council approves the issuance and sale of general obligation bonds in an aggregate principal amount not to exceed $180 million to fund certain capital projects listed in section 4, plus all costs and expenses related to issuing and delivering the bonds as authorized pursuant to the Bond Acts.
Section 8(b) of D.C. Law 18-308 provided that the act shall expire after 225 days of its having taken effect.
Resolution 14-224, the “General Obligation Bond Issuance Authorization Resolution of 2001”, was approved effective October 16, 2001.
Resolution 14-225, the “General Obligation Bond Proceeds Financing Reallocation Authorization Resolution of 2001”, was approved effective October 16, 2001.
Resolution 14-585, the “General Obligation Bond Issuance Authorization Emergency Resolution of 2002”, was approved effective October 18, 2002.
Resolution 15-129, the “General Obligation Bond Issuance Approval Resolution of 2003”, was approved effective July 8, 2003.
Resolution 16-356, the “Fiscal Year 2006 General Obligation Bond Issuance Approval Emergency Resolution of 2005”, was approved effective November 1, 2005.

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