Source: https://development.code.dccouncil.us/dc/council/code/sections/2-1217.33f.html
Timestamp: 2019-11-12 09:34:05
Document Index: 525683183

Matched Legal Cases: ['§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§\u20022', '§\u20022', '§ 1', '§\u20022', '§\u20022', '§\u20022']

D.C. Law Library - § 2–1217.33f. Bond details.
↪ § 2–1217.33f. Bond details.
§ 2–1217.33e. Payment and security.
§ 2–1217.33g. Issuance of the bonds.
§ 2–1217.33f. Bond details.
(a) The Mayor is authorized to take any action reasonably necessary or appropriate in accordance with this subpart [§§ 2-1217.33a to 2-1217.33n] in connection with the preparation, execution, issuance, sale, delivery, security for, and payment of the bonds of each series, including, but not limited to, determinations of:
(9) Procedures for monitoring the use of the proceeds received from the sale of the bonds to ensure that the proceeds are properly applied and used to accomplish the purposes of the Home Rule Act and this subpart [§§ 2-1217.33a to 2-1217.33n];
(b) The bonds shall contain a legend which shall provide that the bonds are special obligations of the District, are without recourse to the District, are not a pledge of, and do not involve, the faith and credit or the taxing power of the District (other than the Available Tax Increment, the Available Increment, and any other taxes and fees allocated to the City Market at O Street Fund), do not constitute a debt of the District, and do not constitute lending of the public credit for private undertakings as prohibited in § 1-206.02(a)(2).
(h) The District pledges, covenants, and agrees with the holders of the bonds that, subject to the provisions of the Financing Documents, the District will not limit or alter the revenues pledged to secure the bonds or the basis on which such revenues are collected or allocated, will not impair the contractual obligations of the District to fulfill the terms of any agreement made with the holders of the bonds, will not in any way impair the rights or remedies of the holders of the bonds, and will not modify, in any way, the exemptions from taxation provided for in this subpart [§§ 2-1217.33a to 2-1217.33n], until the bonds, together with interest thereon, and all costs and expenses in connection with any suit, action, or proceeding by or on behalf of the holders of the bonds, are fully met and discharged. This pledge and agreement for the District may be included as part of the contract with the holders of the bonds. This subsection constitutes a contract between the District and the holders of the bonds. To the extent that any acts or resolutions of the Council may be in conflict with this subpart [§§ 2-1217.33a to 2-1217.33n], this subpart [§§ 2-1217.33a to 2-1217.33n] shall be controlling.