Source: https://development.code.dccouncil.us/dc/council/code/sections/42-2812.04.html
Timestamp: 2019-10-16 07:28:15
Document Index: 552824842

Matched Legal Cases: ['§ 42', '§ 42', '§ 42', '§ 1', '§ 204', '§ 2172']

D.C. Law Library - § 42–2812.04. Bond details.
↪ § 42–2812.04. Bond details.
§ 42–2812.05. Sale of the bonds.
(a) The Mayor is authorized to take any action reasonably necessary or appropriate in accordance with this subchapter 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 Chapter 2 of Title 1 and this chapter;
(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 real property transfer taxes and deed recordation taxes allocated to the Allocated 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).
(c) The bonds shall be executed in the name of the District and on its behalf by the manual or facsimile signature of the Mayor, and attested by the Secretary of the District of Columbia by the Secretary’s manual or facsimile signature. The Mayor’s execution and delivery of the bonds shall constitute conclusive evidence of the Mayor’s approval, on behalf of the District, of the final form and content of the bonds.
(Mar. 16, 1989, D.C. Law 7-202, § 204; as added Oct. 20, 2005, D.C. Law 16-33, § 2172(c), 52 DCR 7503.)