A bill to amend the District of Columbia Self-Government and Governmental Reorganization Act and the charter of the District of Columbia with respect to the provisions allowing the District of Columbia to issue general obligation bonds and notes and revenue bonds, notes, and other obligations.
PL 97-105 (H.R.4910), enacted 12/23/1981

PUBLIC LAW 97-105—DEC. 23, 1981 
95 STAT. 1493 
Public Law 97-105 
97th Congress 
An Act 
To amend the District of Columbia Self-Government and Governmental Reorganiza-
tion Act and the charter of the District of Columbia with respect to the provisions 
allowing the District of Columbia to issue general obligation bonds and notes and 
revenue bonds, notes, and other obligations. 
Be it enacted by the Senate and House of Representatives of the 
United States of 
America in Congress assembled. 
SECTION 1. Section 103(8) of the District of Columbia Self-Govem-
ment and Governmental Reorganization Act (D.C. Code, sec. 1-122(8)) 
is amended to read as follows: 
"(8) The term 'capital project' means any physical public better-
ment or improvement, the acquisition of property of a permanent 
nature, or the purchase of equipment or furnishings, and includes (A) 
costs of any preliminary plans, studies, and surveys in connection 
with such betterment, improvement, acquisition, or purchase, (B) 
costs incidental to such betterment, improvement, acquisition, or 
purchase, and the financing thereof, including the cost of any 
election, professional fees, printing or engraving, production and 
reproduction of documents, publication of notices, taking of title, 
bond insurance, and interest during construction, and (C) the reim-
bursement of any fund or account for amounts expended for the 
payment of any such costs". 
SEC 2. Section 446 of the District of 
Columbia Self-Govemment and 
Governmental Reorganization Act (D.C. Code, sec. 47-224) is 
amended in the fourth sentence by striking out "No" and inserting in 
lieu thereof "Except as provided in section 467(d), section 471(c), 
section 472(dX2), section 483(d), and subsections (f) and (gX3) of section 
490, no". 
SEC. 3. Section 448 of the District of Columbia Self-Govemment and 
Governmental Reorganization Act (D.C. Code, sec. 47-226) is 
amended— 
(1) by inserting "(a)" after "SEC 448."; and 
(2) by adding at the end the following new subsection: 
"Ot)) Notwithstanding subsection (a), the Mayor may make any 
pajnnents required by subsection O
t
>
) or subsection (c) of section 483 
and take any actions authorized by an act of the Council under 
section 4670?) or under subsection (aX4XA), or subsection (e), of section 
490.". 
SEC 4. Section 461(a) of the District of Columbia Self-Govemment 
and Governmental Reorganization Act (D.C. Code, sec. 47-241(a)) is 
amended in the second sentence by striking out "payable annually or 
semi-annually, at such rate" and inserting in lieu thereof "payable on 
such dates, at such rate or rates". 
SEC 5. Section 462 of the District of Columbia Self-Govemment and 
Governmental Reorganization Act (D.C. Code, sec. 47-242) is 
amended— 
(1) by striking out the title of such section and inserting in lieu 
thereof the following new title: 
Dec. 23, 1981 
[H.R. 4910] 
District of 
Columbia Self-
Government and 
Governmental 
Reorganization 
Act, 
amendment. 
"Capital 
project." 
Post, pp. 1496, 
1497. 
Post, pp. 1497, 
1498. 
Post, p. 1499. 
D.C. Code 
47-254. 
95 STAT. 1494 
PUBLIC LAW 97-105—DEC. 23, 1981 
"CONTENTS OF BORROWING LEGISLATION AND ELECTIONS ON ISSUING 
GENERAL OBUGATION BONDS"; 
(2) by inserting "(a)" after "SEC. 462."; 
(3) in paragraph (6)— 
(A) by striking out the comma which appears after "discre-
tion"; and 
(B) by inserting "the date of such election," after "holding 
such election,"; and 
(4) by adding after paragraph (6) the following new subsections: 
"(b) Any election held on the question of issuing general obligation 
bonds must be held before the act authorizing the issuance of such 
bonds is transmitted to the Speaker of the House of Representatives 
DC. Code 1-147. gn^ the President of the Senate pursuant to section 602(c). 
"(c) Notwithstanding section 602(cXl), the provisions required by 
paragraph (6) of subsection (a) to be included in any act authorizing 
the issuance of general obligation bonds shall take effect on the date 
of the enactment of such act.". 
SEC. 6. Section 463 of the District of Columbia Self-Government and 
Governmental Reomanization Act (D.C. Code, sec. 47-243) is 
amended to read as follows: 
"PUBUCATION OF BORROWING LEGISLATION 
"SEC. 463. (a) After each act of the Council of the District under 
D.C. Code 
section 462(a) authorizing the issuance of general obligation bonds 
47-242. 
has taken effect, the Mayor shall publish such act at least once in at 
least one newspaper of general circulation within the District 
together with a notice that such act has taken effect. Each such notice 
shall be in substantially the following form: 
"'NOTICE 
"'The following act of the Council of the District of Columbia 
(published with this notice) authorizing the issuance of general 
obligation bonds has taken effect. As provided in the District of 
Columbia Self-Govemment and Governmental Reorganization 
Act, the time within which a suit, action, or proceeding question-
ing the validity of such bonds may be commenced expires at the 
end of the twenty-day period beginning on the date of the first 
publication of this notice. 
<( < 
_^__ 
"'Mayor.' 
"(b) Neither the failure to publish the notice provided for in 
subsection (a) nor any error in any publication of such notice shall 
impair the effectiveness of the act of the Council authorizing the 
issuance of such bonds or the validity of any bond issued pursuant to 
such act.". 
SEC. 7. Section 464 of the District of Columbia Self-Government and 
Governmental Reoi^anization Act (D.C. Code, sec. 47-244) is amended 
to read as follows: 
"SHORT PERIOD OF UMITATION 
"SEC. 464. (a) At the end of the twenty-day period beginning on the 
Supra. 
date of the first publication pursuant to section 463(a) of the notice 
that an act authorizing the issuance of general obligation bonds has 
taken effect— 
PUBLIC LAW 97-105—DEC. 23, 1981 
95 STAT. 1495 
"(1) any recital or statement of fact contained in such act or in 
the preamble or title of such act shall be deemed to be true for the 
purpose of determining the validity of the bonds authorized by 
such act, and the District and all others interested shall be 
estopped from den3dng any such recital or statement of fact; and 
"(2) such act, and all proceedings in connection with the 
authorization of the issuance of such bonds including any elec-
tion held on the question of issuing such bonds, shall be deemed 
to have been duly and regularly taken, passed, and done by the 
District, in compliance with this Act and all other applicable 
laws, for the purpose of determining the validity of such act and 
proceedings; and no court shall have jurisdiction in any suit, 
action, or proceeding questioning the validity of such act or 
proceedings except in a suit, action, or proceeding commenced 
before the end of such twenty-day period. 
"(b) At the end of the twenty-day period beginning on the date of 
the first publication pursuant to section 463(a) of the notice that an Ante, p. 1494. 
act authorizing the issuance of general obligation bonds has taken 
effect, no court shall have jurisdiction in any suit, action, or proceed-
ing questioning the validity of any general obligation bond issued 
pursuant to such act if^ 
"(1) such general obligation bond was purchased in good faith 
and for fair value; and 
"(2) such general obligation bond contains substantially the 
following statement which shall bind the District of Columbia: 
I t is hereby certified and recited that all conditions, acts, and things 
required by the District of Columbia Self-Government and Govern-
mental Reorganization Act and other applicable laws to exist, to have D.C. Code 1-121 
happened, and to have been performed precedent to and in the ^°^-
issuance of this bond exist, have happened, and have been performed 
and that the issue of bonds, of which this is one, together with all 
other indebtedness of the District of Columbia, is within every debt 
and other limit prescribed by law.'". 
SEC. 8. Section 465 of the District of Columbia Self-Government 
and Governmental Reorganization Act (D.C. Code, sec. 47-245) is 
amended to read as follows: 
"ISSUANCE OF GENERAL OBUGATION BONDS 
"SEC. 465. (a) After an act of the Council authorizing the issuance of 
general obligation bonds under section 461(a) takes effect, the Mayor D.C. Code 
may issue such general obligation bonds as authorized by such act of ^7-241. 
the Council. An issue of general obligation bonds may be all or any 
part of the aggregate principal amount of bonds authorized by such 
act. 
"(b) The principal amount of the general obligation bonds of each 
issue shall be payable in annual installments beginning not more 
than three years after the date of such bonds and ending not more 
than thirty years after such date. 
"(c) The general obligation bonds of each issue shall be executed by 
the manual or facsimile signature of such officials as may be 
designated to sign such bonds by the act of the Council authorizing 
the issuance of the bonds, except that at least one such signature 
shall be manual. Coupons attached to the bonds shall be authenti-
cated by the facsimile signature of the Mayor unless the Council 
provides otherwise.". 
-194 0-82 
96:QU 
95 STAT. 1496 
PUBLIC LAW 97-105—DEC. 23, 1981 
SEC. 9. Section 466 of the District of Columbia Self-Government 
and Governmental Reorganization Act (D.C. Code, sec. 47-246) is 
amended— 
(1) by striking out the title of the section and inserting in lieu 
thereof "PUBLIC OR PRIVATE SALE"; 
(2) by striking out "SEC. 466. All" in the first sentence and 
inserting in lieu thereof "SEC. 466. (a) Except as provided in 
subsection (b),"; and 
(3) by adding at the end the following new subsection: 
"(b) Any issue of general obligation bonds which is sold before 
October 1, 1984, and which is additionally secured by a security 
Infra. 
interest created in District revenues under section 467(a) may be sold 
at either a public sale under subsection (a) or at a private sale on a 
negotiated basis in such manner as the Mayor may determine to be in 
the public interest.". 
SEC. 10. Subpart 1 of part E of the District of Columbia Self-
Government and Governmental Reorganization Act (D.C. Code, sec. 
47-241 et seq.) is amended by inserting after section 466 the following 
new section: 
"AUTHORITY TO CREATE SECURITY INTERESTS IN DISTRICT REVENUES 
"SEC. 467. (a) An act of the Council authorizing the issuance of 
D.C. Code 
general obligation bonds under section 461(a) may create a security 
'^'^"^^^- 
interest in any District revenues as additional security for the 
payment of the bonds authorized by such act. 
(b) Any such act creating a security interest in District revenues 
may contain provisions (which may be part of the contract with the 
holders of such bonds)— 
"(1) describing the particular District revenues which are 
subject to such security interest; 
"(2) creating a reasonably required debt service reserve fund or 
any other special fund; 
"(3) authorizing the Mayor of the District to execute a trust 
indenture securing the bonds; 
"(4) vesting in the trustee under such a trust indenture such 
properties, rights, powers, and duties in trust as may be neces-
sary, convenient, or desirable; 
'^5) authorizing the Mayor of the District to enter into and 
amend agreements concerning (A) the custody, collection, use, 
disposition, security, investment, and payment of the proceeds of 
the bonds and the District revenues which are subject to such 
security interest, and (B) the doing of any act (or the refraining 
from doing any act) that the District would have the right to do in 
the absence of such an agreement; 
"(6) prescribing the remedies of the holders of the bonds in the 
event of a default; and 
"(7) authorizing the Mayor of the District to take any other 
actions in connection with the issuance, sale, delivery, security, 
and payment of the bonds. 
"(c) Notwithstanding article 9 of title 28 of the District of Columbia 
Code, any security interest in District revenues created under subsec-
tion (a) shall be valid, binding, and perfected from the time such 
security interest is created, with or without the physical delivery of 
any funds or any other property and with or without any further 
action. Such security interest shall be valid, binding, and perfected 
whether or not any statement, document, or instrument relating to 
such security interest is recorded or filed. The lien created by such 
PUBLIC LAW 97-105—DEC. 23, 1981 
95 STAT. 1497 
security interest is valid, binding, and perfected with respect to any 
individual or legal entity having claims against the District, whether 
or not such individual or legal entity has notice of such lien. 
"(d) The fourth sentence of section 446 shall not apply to any "9/^x9^^^ 
obligation or expenditure of any District revenues to secure any '*'-224. 
general obligation bond under subsection (a).". 
SEC. 11. Section 471 of the District of Columbia Self-Government 
and Governmental Reorganization Act (D.C. Code, sec. 47-247) is 
amended to read as follows: 
"BORROWING TO MEET APPROPRIATIONS 
"SEC. 471. (a) In the absence of unappropriated revenues available 
to meet appropriations made pursuant to section 446, the Council 
may by act authorize the issuance of general obligation notes. The 
total amount of all such general obligation notes originally issued 
during a fiscal year shall not exceed 2 per centum of the total 
appropriations for the District for such fiscal year. 
"(b) Any general obligation note issued under subsection (a), as 
authorized by an act of the Council, may be renewed. Any such note, 
including any renewal of such note, shall be due and payable not later 
than the last day of the fiscal year occurring immediately after the 
fiscal year during which the act authorizing the original issuance of 
such note takes effect. 
"(c) The fourth sentence of section 446 shall not apply to any 
amount obligated or expended by the District for the payment of the 
principal of, interest on, or redemption premium for any general 
obligation note issued under subsection (a).'. 
SEC. 12. Section 472 of the District of Columbia Self-Government 
and Governmental Reorganization Act (D.C. Code, sec. 47-248) is 
amended to read as follows: 
"BORROWING IN ANTICIPATION OF REVENUES 
"SEC. 472. (a) In anticipation of the collection or receipt of revenues 
for a fiscal year, the Council may by act authorize the issuance of 
general obligation notes for such fiscal year, to be known as revenue 
anticipation notes. 
"(b) The total amount of all revenue anticipation notes issued 
under subsection (a) outstanding at any time during a fiscal year 
shall not exceed 20 per centum of the total anticipated revenue of the 
District for such fiscal year, as certified by the Mayor under this 
subsection. The Mayor shall certify, as of a date which occurs not 
more than fifteen days before each original issuance of such revenue 
anticipation notes, the total anticipated revenue of the District for 
such fiscal year. 
"(c) Any revenue anticipation note issued under subsection (a) may 
be renewed. Any such note, including any renewal of such note, shall 
be due and payable not later than the last day of the fiscal year 
during which the note was originally issued. 
"(dXl) Notwithstanding section 602(c)(1), any act of the Council D C Code 1-147. 
authorizing the issuance of revenue anticipation notes under subsec-
tion (a) may take effect on the date of the enactment of such act. 
"(2) The fourth sentence of section 446 shall not apply to any 
amount obligated or expended by the District for the payment of the 
principal of, interest on, or redemption premium for any revenue 
anticipation note issued under subsection (a).". 
95 STAT. 1498 
PUBLIC LAW 97-105—DEC. 23, 1981 
SEC. 13. Section 481 of the District of Columbia Self-Government 
and Governmental Reorganization Act (D.C. Code, sec. 47-251) is 
amended to read as follows: 
"SPECIAL TAX 
"SEC. 481. (a) Any act of the Council authorizing the issuance of 
D.C. Code 47-241. general obligation bonds under section 461(a) shall provide for the 
annual levy of a special tax or charge, if the Council determines that 
such tax or charge is necessary. Such tax or charge shall be levied, 
without limitation as to rate or amount, in amounts which together 
with other District revenues available and applicable will be suffi-
cient to pay the principal of and interest on such general obligation 
bonds as they become due and payable. Such tax or charge shall be 
levied and collected at the same time and in the same manner as 
other District taxes are levied and collected, and when collected shall 
be set aside in a separate debt service fund and irrevocably dedicated 
to the pajnnent of such principal and interest. 
"(b) The Comptroller General of the United States shall make 
annual audits of the amounts set aside and deposited in each debt 
service fund pursuant to subsection (a).". 
SEC. 14. Subpart 3 of part E of the District of Columbia Self-
Govemment and Governmental Reorganization Act (D.C. Code, sec. 
47-251) is amended by adding after section 481 the following new 
sections: 
"FULL FAITH AND CREDIT OF THE DISTRICT 
"SEC. 482. The full faith and credit of the District is pledged for the 
pajnment of the principal of and interest on any general obligation 
D.C. Code 47-241. bond or note issued under section 461(a), section 471(a), or section 
^Ant' ^ 1497 
472(a), whether or not such pledge is stated in such bond or note or in 
" ^' ^ 
the act authorizing the issuance of such bond or note. 
"PAYMENT OF THE GENERAL OBUGATION BONDS AND NOTES 
"SEC. 483. (a) The Council shall provide in each annual budget for 
the District of Columbia government for a fiscal year adopted by the 
D.C. Code 47-224. Council pursuant to section 446 sufficient funds to pay the principal 
of and interest on all general obligation bonds or notes issued under 
section 461(a), section 471(a), or section 472(a) becoming due and 
payable during such fiscal year. 
"(b) The Mayor shall insure that the principal of and interest on all 
general obligation bonds and notes issued under section 461(a), 
section 471(a), or section 472(a) are paid when due, including by 
paying such principal and interest from funds not otherwise legally 
committed. 
"(c) If the Mayor determines that no other funds are available to 
pay the principal and interest due and payable during any fiscal year 
on any general obligation bond or note issued under section 461(a), 
section 471(a), or section 472(a), the annual Federal payment appro-
priated for such fiscal year under the authorization contained in 
D.C. Code 
section 502 shall first be used to pay such principal or interest. 
47-250id. 
"(jj) rjijjg fourth sentence of section 446 shall not apply to— 
"(1) any amount set aside in a debt service fund under section 
Supra. 
481(a); 
"(2) any amount obligated or expended for the payment of the 
principal of, interest on, or redemption premium for any general 
PUBLIC LAW 97-105—DEC. 23, 1981 
95 STAT. 1499 
obligation bond or note issued under section 461(a), section 471(a), DC Code 47-241. 
or section 472(a); 
ln£ S' U9?" 
"(3) any amount obligated or expended as provided by the 
' ^' 
Council in any annual budget for the District of Columbia 
government pursuant to subsection (a) or as provided by any 
amendment or supplement to such budget; or 
"(4) any amount obligated or expended by the Mayor pursuant 
to subsection (b) or (c).". 
SEC. 15. Part E of the District of Columbia Self-Govemment and 
Governmental Reorganization Act (D.C. Code, sec. 47-241 et seq.) is 
amended— 
(1) by redesignating subpart 4 as subpart 5; and 
(2) by inserting after section 481 the following new subpart: 
"Subpart 4—Full Faith and Credit of the United States 
"FULL FAITH AND CREDIT OF THE UNFTED STATES NOT PLEDGED 
"SEC. 484. The full faith and credit of the United States is not 
pledged for the payment of any principal of or interest on any bond, 
note, or other obligation issued by the District under this part. The 
United States is not responsible or liable for the payment of any 
principal of or interest on any bond, note, or other obligation issued 
by the District under this part.". 
SEC. 16. Section 490 of the District of Columbia Self-Govemment 
and Governmental Reorganization Act (D.C. Code, sec. 47-254) is 
amended— 
(1) by striking out subsection (a) and inserting in lieu thereof Revenue bonds 
the following new subsection: 
^^^ ^°*^^-
"(aXD The Council may by act authorize the issuance of revenue 
bonds, notes, or other obligations (including refunding bonds, notes, 
or other obligations) to borrow money to finance, to refinance, or to 
assist in the financing or refinancing of, undertakings in the areas of 
housing, health facilities, transit and utility facilities, recreational 
facilities, college and university facilities, pollution control facilities, 
and industrial and commercial development. Any such financing or 
refinancing may be effected by loans made directly or indirectly to 
any individual or legal entity, by the purchase of any mortgage, note, 
or other security, or by the purchase, lease, or sale of any property. 
"(2) Any revenue bond, note, or other obligation issued under 
paragraph (1) shall be a special obligation of the District and shall be 
a negotiable instrument, whether or not such bond, note, or other 
obligation is a security as defined in section 28:8-102(lXa) of title 28 of 
the District of Columbia Code. 
"(3) Any revenue bond, note, or other obligation issued under 
paragraph (1) shall be paid and secured (as to principal, interest, and 
any premium) as provided by the act of the Council authorizing the 
issuance of such bond, note, or other obligation. Subject to subsection 
(c), any act of the Council authorizing the issuance of such bond, note, 
or other obligation may provide for (A) the payment of such bond, 
note, or other obligation from any available revenues, assets, or 
property, and (B) the securing of such bond, note, or other obligation 
by the mortgage of real property or the creation of any security 
interest in available revenues, assets, or other property. 
"(4KA) In authorizing the issuance of any revenue bond, note, or Security 
other obligation under paragraph (1), the Council may enter into, or interests. 
authorize the Mayor to enter into, any agreement concerning the 
acquisition, use, or disposition of any funds or property. Any such 
95 STAT. 1500 
PUBLIC LAW 97-105—DEC. 23, 1981 
U.S. property. 
District of 
Columbia 
government 
expenditures. 
D.C. Code 
47-224. 
agreement may create any security interest in any funds or property, 
may provide for the custody, collection, security, investment, and 
payment of any funds (including any funds held in trust) for the 
pajrment of such bond, note, or other obligation, may mortgage any 
property, may provide for the acquisition, construction, maintenance, 
and disposition of the undertaking financed or refinanced using the 
proceeds of such bond, note, or other obligation, and may provide for 
the doing of any act (or the refraining from doing of any act) which 
the District has the right to do in the absence of such agreement. Any 
such agreement may be assigned for the benefit of, or made a part of 
any contract with, any holder of such revenue bond, note, or other 
obligation issued under paragraph (1). 
"(B) Notwithstanding article 9 of title 28 of the District of Columbia 
Code, any security interest created under subparagraph (A) shall be 
valid, binding, and perfected from the time such security interest is 
created, with or without the physical delivery of any funds or any 
other property and with or without any further action. Such security 
interest shall be valid, binding, and perfected whether or not any 
statement, document, or instrument relating to such security interest 
is recorded or filed. The lien created by such security interest is valid, 
binding, and perfected with respect to any individual or legal entity 
having claims against the District, whether or not such individual or 
legal entity has notice of 
such lien. 
"(C) Any funds of the District held for the payment or security of 
any revenue bond, note, or other obligation issued under paragraph 
(1), whether or not such funds are held in trust, may be secured in the 
manner agreed to by the District and any depository of such funds. 
Any depository of such funds may give security for the deposit of such 
funds."; 
(2) by striking out subsection (b) and inserting in lieu thereof 
the following new subsection: 
"(b) No property owned by the United States may be mortgaged or 
made subject to any security interest to secure any revenue bond, 
note, or other obligation issued under subsection (aXl)."; 
(3) by striking out subsection (e) and inserting in lieu thereof 
the following new subsection: 
"(e) Any act of the Council authorizing the issuance of revenue 
bonds, notes, or other obligations under subsection (aXD may— 
"(1) briefly describe the purpose for which such bonds, notes, or 
other obligations are to be issued; 
"(2) identify the Act authorizing such purpose; 
"(3) prescribe the form, terms, provisions, manner, and method 
of issuing and selling (including sale by negotiation or by compet-
itive bid) such bonds, notes, or other obligations; 
"(4) provide for the rights and remedies of the holders of such 
bonds, notes, or other obligations upon default; 
"(5) prescribe any other details with respect to the issuance, 
sale, or securing of such bonds, notes, or other obligations; and 
"(6) authorize the Mayor to take any actions in connection with 
the issuance, sale, delivery, security, and payment of such bonds, 
notes, or other obligations, including the prescribing of any 
terms or conditions not contained in such act of the Council.'; 
(4) by striking out subsection (f) and inserting in lieu thereof 
the following new subsection: 
"(f) The fourth sentence of section 446 shall not apply to— 
"(1) any amount (including the amount of any accrued interest 
or premium) obligated or expended from the proceeds of the sale 
PUBLIC LAW 97-105—DEC. 23, 1981 
95 STAT. 1501 
of any revenue bond, note, or other obligation issued under 
subsection (aXl); 
"(2) any amount obligated or expended for the payment of the 
principal of, interest on, or any premium for any revenue bond, 
note, or other obligation issued under subsection (aXl); and 
"(3) any amount obligated or expended to secure any revenue 
bond, note, or other obligation issued under subsection (aKl)."; 
and 
(5) by striking out paragraph (3) of subsection (g) and inserting 
in lieu thereof the following new paragraph: 
"(3) The fourth sentence of section 446 shall not apply to— 
"(A) any amount (including the amount of any accrued interest 
or premium) obligated or expended from the proceeds of the sale 
of any revenue bond, note, or other obligation issued under 
subsection (gKl); 
"(B) any amount obligated or expended for the payment of the 
principal of, interest on, or any premium for any revenue bond, 
note, or other obligation issued under subsection (gKl); and 
"(C) any amount obligated or expended to secure any revenue 
bond, note, or other obligation issued under subsection (gKl).". 
SEC. 17. Section 602(cKl) of the District of Columbia Self-Govern-
ment and Governmental Reorganization Act (D.C. Code, sec. 
l-147(cKl)) is amended in the first sentence by inserting "and except 
as provided in section 462(c) and section 472(dXl)" after "title IV of f «
^
„
^
' P 1494, 
thisAct". 
1'^^ 
SEC. 18. The table of contents of the District of Columbia Self-
Government and Governmental Reorganization Act is amended— D.c. Code 1-121. 
(1) by striking out the item relating to section 462 and inserting 
in lieu thereof the following new item: 
"Sec. 462. Contents of borrowing legislation and elections on issuing general obliga-
tion bonds."; 
(2) by striking out the item relating to section 465 and inserting 
in lieu thereof the following new item: 
"Sec. 465. Issuance of general obligation bonds."; 
(3) by striking out the item relating to section 466 and inserting 
in lieu thereof the following new item: 
"Sec. 466. Public or private sale."; 
(4) by inserting after the item relating to section 466 the 
following new item: 
"Sec 467. Authority to create security interests in District revenues."; 
(5) by inserting after the item relating to section 481 the 
following new items: 
"Sec 482. Full faith and credit of the District. 
"Sec. 483. Payment of general obligation bonds and notes."; 
(6) by redesi^ating subpart 4 of part E as subpart 5; and 
(7) by insertmg after the item relating to section 483 the 
following new item: 
"Subpart 4—Full Faith and Credit of the United States 
"Sec. 484. Full faith and credit of the United States not pledged". 
SEC. 19. (a) Except as provided in subsection (b), this Act shall take Effective date. 
effect on the date of the enactment of this Act. 
95 STAT. 1502 
PUBLIC LAW 97-105—DEC. 23, 1981 
(b) Any revenue bonds, notes, or other obligations authorized by an 
act of the Council of the District of Columbia enacted subsequent to 
August 1,1981, pursuant to section 490(a) of the District of Columbia 
Self-Government and Governmental Reorganization Act (D.C. Code, 
Ante, p. 1499. 
sec. 47-254(a)) may be secured by a mortgage of real property or a 
security interest in any revenues, assets, or other property, notwith-
standing that such mortgage or other security interest may not have 
been authorized by such section 490(a) as of the effective date of such 
act. 
Approved December 23, 1981. 
LEGISLATIVE HISTORY—H.R. 4910: 
HOUSE REPORT No. 97-361 (Comm. on the District of Columbia). 
CONGRESSIONAL RECORD, Vol. 127 (1981): 
Dec. 14, considered and passed House. 
Dec. 15, considered and passed Senate.