reglab/statecodes huggingface dataset:
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-A - Tax Increment Financing For Retail Development › § 2–1217.78. Details of Bonds

§ 2–1217.78. Details of Bonds.
(a) The Mayor may take any action necessary or appropriate in accordance with this subchapter in connection with the preparation, execution, issuance, sale, delivery, and payment of Bonds, including determinations of:
(1) The final form, content, designation, and terms of the Bonds, including a determination that the Bonds may be issued in certificate or book entry form;
(2) The principal amount of the Bonds to be issued and denominations of the Bonds;
(3) The rate or rates of interest or the method for determining the rate or rates of interest on the Bonds;
(4) The date or dates of issuance, sale, and delivery of, and the payment of interest on the Bonds, and the maturity date or dates of the Bonds;
(5) The terms under which the Bonds may be paid, optionally or mandatorily redeemed, accelerated, tendered, called, or put for redemption, repurchase, or remarketing before their respective stated maturities;
(6) Provisions for the registration, transfer, and exchange of each series of Bonds and the replacement of mutilated, lost, stolen, or destroyed Bonds;
(7) The creation of any reserve fund, sinking fund, or other fund with respect to the Bonds;
(8) The time and place of payment of the Bonds;
(9) Procedures for monitoring the use of the proceeds received from the sale of the Bonds to ensure that they are properly applied to their respective eligible project and used to accomplish the purposes of this subchapter; and
(10) Actions necessary to qualify the Bonds under blue sky laws of any jurisdiction where the Bonds are marketed.
(b) The Bonds shall contain a legend, which shall provide that the Bonds shall be special obligations of the District, shall be nonrecourse to the District, shall not be a pledge of, and shall not involve, the faith and credit or the taxing power of the District (other than the Tax Increment Revenues or any other security authorized by this subchapter), shall not constitute a debt of the District, and shall 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. 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 same.
(d) The official seal of the District, or facsimile of it, shall be impressed, printed, or otherwise reproduced on the Bonds.
(e) The Bonds may be issued at any time or from time to time in one or more issues and in one of more series.
(Sept. 8, 2004, D.C. Law 15-185, § 9, 51 DCR 5941.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-A - Tax Increment Financing For Retail Development › § 2–1217.80. Default

§ 2–1217.80. Default.
If there shall be a default in the payment of the principal of, or interest on, any Bonds of a series after the principal or interest shall become due and payable, whether at maturity or upon call for redemption, or if the District shall fail or refuse to carry out and perform the terms of any agreement with the holders of any of the Bonds, the holders of the Bonds, or the trustee appointed to act on behalf of the holders of the Bonds, may, subject to the provisions of the financing documents, do the following:
(1) By action, writ, or other proceeding, enforce all rights of the holders of the Bonds, including the right to require the District to carry out and perform the terms of any agreement with the holders of the Bonds or its duties under this subchapter;
(2) By action, require the District to account as if it were the trustee of an express trust;
(3) By action, petition to enjoin any acts or things that may be unlawful or in violation of the rights of the holders of the Bonds; and
(4) Declare all the Bonds due and payable, whether or not in advance of maturity and, if all the defaults be made good, annul the declaration and its consequences.
(Sept. 8, 2004, D.C. Law 15-185, § 11, 51 DCR 5941.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-A - Tax Increment Financing For Retail Development › § 2–1217.81. Liability

§ 2–1217.81. Liability.
(a) The members of the Council, the Mayor, or any person executing Bonds shall not be liable personally on the Bonds by reason of the issuance thereof.
(b) Notwithstanding any other provision of this subchapter, the Bonds shall not be general obligations of the District and shall not be in any way a debt or liability of the District within the meaning of any debt or other limit prescribed by law. The full faith and credit or the general taxing power of the District (other than the Tax Increment Revenues or other security authorized under this subchapter) shall not be pledged to secure the payment of any Bonds.
(Sept. 8, 2004, D.C. Law 15-185, § 12, 51 DCR 5941.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-A - Tax Increment Financing For Retail Development › § 2–1217.82. Prior legislation

§ 2–1217.82. Prior legislation.
This subchapter shall not adversely affect any actions taken, agreements entered into, pledge of security made or Bonds issued prior to September 8, 2004.
(Sept. 8, 2004, D.C. Law 15-185, § 13, 51 DCR 5941.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-A - Tax Increment Financing For Retail Development › § 2–1217.83. Promulgation of rules and regulations

§ 2–1217.83. Promulgation of rules and regulations.
The Mayor shall promulgate rules and regulations setting forth the criteria and procedures necessary to implement the provisions of this subchapter.
(Sept. 8, 2004, D.C. Law 15-185, § 14, 51 DCR 5941.)
Delegation of Authority
Delegation of Mayor’s Rulemaking Authority for the Retail Incentive Second Congressional Review Emergency Act of 2004 and Any Similar Succeeding Legislation, see Mayor’s Order 2004-146, August 26, 2004 ( 51 DCR 9194).
Delegation of Authority-Retail Incentive Act of 2004, see Mayor’s Order 2005-195, December 13, 2005, ( 53 DCR 700).
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-A - Tax Increment Financing For Retail Development › § 2–1217.84. Construction

§ 2–1217.84. Construction.
This subchapter shall be liberally construed to effect the purposes stated herein.
(Sept. 8, 2004, D.C. Law 15-185, § 15, 51 DCR 5941.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.101. Short title

§ 2–1217.101. Short title.
This subchapter may be cited as the “Qualified Zone Academy Revenue Bond Project Forward Commitment Approval Act of 2005”.
(Oct. 18, 2005, D.C. Law 16-28, § 1, 52 DCR 8093.)
Emergency Legislation
For temporary (90 day) addition, see §§ 2 to 18 of Qualified Zone Academy Revenue Bond Project Forward Commitment Approval Emergency Act of 2005 (D.C. Act 16-143, July 26, 2005, 52 DCR 7171).
Delegation of Authority
Delegation of Authority—Qualified Zone Academy Revenue Bond Project Forward Commitment Approval Act of 2005, see Mayor’s Order 2007-93, April 13, 2007 ( 54 DCR 8873).
Resolutions
Resolution 17-495, the “Qualified Zone Academy Revenue Bonds Project Approval Resolution of 2008”, was approved effective January 8, 2008.
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.103. Bond authorization

§ 2–1217.103. Bond authorization.
(a) Pursuant to § 1-204.90, the Council authorizes the issuance of bonds.
(b) One or more series of bonds in multiple separate series may be issued for the purpose of assisting in financing, refinancing, and reimbursing the costs of eligible projects. Refunding bonds may be issued to refund bonds. The aggregate principal amount of bonds, other than refunding bonds, shall not exceed the amount authorized under section 1397E of Internal Revenue Code of 1986, approved August 5, 1997 (111 Stat. 821; 26 U.S.C. § 1397E).
(c) The Mayor is authorized to take any action necessary or appropriate in accordance with this subchapter in connection with the preparation, execution, issuance, sale, delivery, security for, and payment of the bonds pursuant to § 1-204.90, including:
(1) Approving the issuance, sale, and delivery of the bonds;
(2) Making loans, grants or allocating funds, purchasing any mortgage, note, or other security, or purchasing, leasing, or selling of any property for the purpose of financing, refinancing, or reimbursing the costs of an eligible project;
(3) Entering into any agreement concerning the acquisition, use, or disposition of any available revenues, assets, or property;
(4) Entering into such Financing Documents as may be necessary or appropriate for the issuance, security, and administration of the bonds, the investment of proceeds and moneys in the accounts provided for in, or pursuant to this subchapter, the application of the proceeds of the bonds and the moneys and investments in such accounts, and for the purposes provided in this subchapter, including Financing Documents with Qualifying Schools;
(5) Setting forth the requirements for an eligible project to comply with the applicable eligibility requirements pursuant to this subchapter in an agreement between the District and the District of Columbia Board of Education with respect to public schools or each Qualifying School with respect to public charter schools;
(6) Establishing any fund with respect to the bonds as required by the Financing Documents; and
(7) Refunding the bonds through the issuance of refunding bonds.
(Oct. 18, 2005, D.C. Law 16-28, § 3, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.104. Bond details

§ 2–1217.104. Bond details.
(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:
(1) The final form, content, designation, and terms of the bonds, including a determination that the bonds may be issued in certificated or book-entry form;
(2) The principal amount of the bonds to be issued and denominations of the bonds;
(3) The date or dates of issuance, sale, and delivery of the bonds, and the maturity date or dates of the bonds;
(4) The terms under which the bonds may be paid, optionally or mandatorily redeemed, accelerated, tendered, called, or put for redemption, repurchase, or remarketing before their respective stated maturities;
(5) Provisions for the registration, transfer, and exchange of the bonds and the replacement of mutilated, lost, stolen, or destroyed bonds;
(6) The creation of any reserve fund, sinking fund, or other fund with respect to the bonds;
(7) The time and place of payment of the bonds;
(8) Procedures for monitoring the use of the proceeds received from the sale of the bonds to ensure that the proceeds are properly applied to one or more Qualifying Schools and used to accomplish the purposes of this subchapter;
(9) Actions necessary to qualify the bonds under blue sky laws of any jurisdiction where the bonds are marketed; and
(10) The terms and types of credit enhancement under which the bonds may be secured.
(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, 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.
(d) The official seal of the District, or a facsimile of it, shall be impressed, printed, or otherwise reproduced on the bonds.
(e) The bonds of any series may be issued in accordance with the terms of a trust instrument to be entered into by the District and a trustee and may be subject to the terms of one or more agreements entered into by the Mayor pursuant to § 1-204.90(a)(4).
(f) The bonds may be issued at any time or from time to time in one or more issues and in one or more series.
(Oct. 18, 2005, D.C. Law 16-28, § 4, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.105. Sale of the bonds

§ 2–1217.105. Sale of the bonds.
(a) The bonds of any series may be sold at negotiated or competitive sale at, above, or below par, to one or more persons or entities, and upon terms that the Mayor considers to be in the best interests of the District.
(b) The Mayor or an Authorized Delegate may execute, in connection with each sale of the bonds, offering documents on behalf of the District, may deem final any such offering document on behalf of the District for purposes of compliance with federal laws and regulations governing such matters and may authorize the distribution of the documents in connection with the sale of the bonds.
(c) The Mayor is authorized to deliver the executed and sealed bonds, on behalf of the District, for authentication, and, after the bonds have been authenticated, to deliver the bonds to the original purchasers of the bonds upon payment of the purchase price.
(d) The bonds shall not be issued until the Mayor receives an approving opinion from Bond Counsel as to the validity of the bonds and the eligibility of the bonds to be qualified zone academy bonds within the meaning of section 1397E(d)(1) of the Internal Revenue Code of 1986, approved August 5, 1997 (111 Stat. 821; 26 U.S.C. § 1397E(d)(1)).
(e) Unit A of Chapter 3 of this title and subchapter III-A of Chapter 3 of Title 47 [§ 47-351.01 et seq.], shall not apply to whatever contract the Mayor may from time to time enter, or the Mayor may determine to be necessary or appropriate, for purposes of this subchapter.
(Oct. 18, 2005, D.C. Law 16-28, § 5, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.106. Payment and security

§ 2–1217.106. Payment and security.
(a) The District is hereby authorized to pledge the funds on deposit in the QZAB Pledged Account as security for the payment of principal of, and premium, if any, on the bonds.
(b) The bonds shall be payable solely from the funds on deposit in the QZAB Pledged Account and income realized from the temporary investment thereof, and other moneys as provided in the Financing Documents.
(c) The funds for the payment of the bonds shall be deposited with the QZAB Collection Agent pursuant to the QZAB Collection Agreement and used only in accordance with the terms of the agreement.
(d) The Mayor may, without regard to any act or resolution of the Council now existing, designate a QZAB Collection Agent under the QZAB Collection Agreement. The Mayor may execute and deliver the QZAB Collection Agreement, on behalf of the District and in the Mayor’s official capacity, containing the terms that the Mayor considers necessary or appropriate to carry out the purposes of this subchapter.
(e) Payment of the bonds shall be secured as provided in the Financing Documents and by an assignment by the District for the benefit of the bond owners of certain of its rights under the Financing Documents and Closing Documents, including a security interest in certain collateral, if any, to the trustee for the bonds pursuant to the Financing Documents.
(f) The trustee is authorized to deposit, invest, and disburse the proceeds received from the sale of the bonds pursuant to the Financing Documents.
(Oct. 18, 2005, D.C. Law 16-28, § 6, 52 DCR 8093.)
Section References
This section is referenced in § 2-1217.102.
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.107. Financing and Closing Documents

§ 2–1217.107. Financing and Closing Documents.
(a) The Mayor is authorized to prescribe the final form and content of all Financing Documents and all Closing Documents to which the District is a party that may be necessary or appropriate to issue, sell, and deliver the bonds. Each of the Financing Documents and each of the Closing Documents to which the District is not a party shall be approved, as to form and content, by the Mayor.
(b) The Mayor is authorized to execute, in the name of the District and on its behalf, the Financing Documents and any Closing Documents to which the District is a party by the Mayor’s manual or facsimile signature.
(c) If required, the official seal of the District, or a facsimile of it, shall be impressed, printed, or otherwise reproduced on the Financing Documents and the Closing Documents to which the District is a party.
(d) The Mayor’s execution and delivery of the Financing Documents and the Closing Documents to which the District is a party shall constitute conclusive evidence of the Mayor’s approval, on behalf of the District, of the final form and content of the executed Financing Documents and the executed Closing Documents.
(e) The Mayor is authorized to deliver the executed and sealed Financing Documents and Closing Documents, on behalf of the District, prior to or simultaneously with the issuance, sale, and delivery of the bonds, and to ensure the due performance of the obligations of the District contained in the executed, sealed, and delivered Financing Documents and Closing Documents.
(Oct. 18, 2005, D.C. Law 16-28, § 7, 52 DCR 8093.)
Section References
This section is referenced in § 2-1217.112.
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.108. Determination of eligible projects

§ 2–1217.108. Determination of eligible projects.
(a) The Mayor is authorized to establish the process and criteria for the determination of which public schools or public charter schools will be presented to the Council for approval as a Qualifying School.
(b) If the Mayor determines to present a public school or public charter school for Council approval as a Qualifying School, the Mayor shall enter into negotiations with the District of Columbia Board of Education with respect to public schools or with the respective public charter school with respect to public charter schools to determine the amount of bond proceeds and Available Real Property Tax Revenues to be allocated and the terms and conditions of the agreement between the District and the District of Columbia Board of Education or the Qualifying School.
(c) The Mayor shall transmit to the Council a proposed resolution approving the issuance of a series of bonds and identifying the Qualifying Schools, the amount of the project or projects eligible to be financed with the bond proceeds, and the amount of Available Real Property Tax Revenues to be allocated to the bonds.
(Oct. 18, 2005, D.C. Law 16-28, § 8, 52 DCR 8093.)
Section References
This section is referenced in § 2-1217.109.
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.109. Allocation of Available Real Property Tax Revenues

§ 2–1217.109. Allocation of Available Real Property Tax Revenues.
Within 60 days after the approval of a resolution specified in § 2-1217.108(c), the Chief Financial Officer shall provide for the allocation of Available Real Property Tax Revenues for the series of the bonds. The Chief Financial Officer shall transfer collected Available Real Property Tax Revenues to the appropriate QZAB Pledged Account in the amounts and at the times specified in the QZAB Collection Agreement and the Financing Documents. Monies held or to be held in a QZAB Pledged Account may be used to pay Issuance Costs associated with the bonds, to pay the principal of the series of the bonds, and to pay other amounts authorized by this subchapter. The QZAB Pledged Accounts shall be non-lapsing.
(Oct. 18, 2005, D.C. Law 16-28, § 9, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.110. Bond security

§ 2–1217.110. Bond security.
(a) The bonds issued pursuant to this subchapter are declared to be issued for essential public and governmental purposes.
(b) The District does hereby pledge to and covenant and agree with the holders of any bonds that, subject to the provisions of the Financing Documents, the District will not limit or alter the basis upon which Available Real Property Tax Revenues are allocated, applied, and pledged pursuant to this subchapter; 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 District taxation provided for in this subchapter, until the bonds, together with interest thereon, are fully met and discharged. To the extent that any acts or resolutions of the Council may be in conflict with this subchapter, this subchapter shall be controlling.
(c) It is the intention of the Council that a pledge made in respect of the bonds shall be valid and binding from the time the Available Real Property Tax Revenues or other funds are deposited in the QZAB Pledged Account; that when deposited in the QZAB Pledge Account, the money or property so pledged and deposited shall immediately be subject to the lien of the pledge without physical delivery or further act; and that the lien of the pledge shall be valid and binding as against all parties having any claim of any kind against the District, whether or not the parties have notice of the lien. This subchapter, any resolution adopted pursuant to this subchapter, any trust agreement, or any other instrument by which a pledge is created do not need to be recorded or filed under any provisions of the Uniform Commercial Code to be valid, binding, and effective against the parties.
(Oct. 18, 2005, D.C. Law 16-28, § 10, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.111. Authorized delegation of authority

§ 2–1217.111. Authorized delegation of authority.
To the extent permitted by District and federal laws, the Mayor may delegate to any Authorized Delegate the performance of any function authorized to be performed by the Mayor under this subchapter.
(Oct. 18, 2005, D.C. Law 16-28, § 11, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.112. Limited liability

§ 2–1217.112. Limited liability.
(a) The bonds shall be special obligations of the District. The bonds shall be without recourse to the District. The bonds shall not be general obligations of the District, shall not be a pledge of or involve the faith and credit or the taxing power of the District, shall not constitute a debt of the District, and shall not constitute lending of the public credit for private undertakings as prohibited in § 1-206.02(a)(2).
(b) Nothing contained in the bonds, in the Financing Documents, or in the Closing Documents shall create an obligation on the part of the District to make payments with respect to the bonds from sources other than those listed for that purpose in § 2-1217.107.
(c) All covenants, obligations, and agreements of the District contained in this subchapter, the bonds, and the executed, sealed, and delivered Financing Documents and Closing Documents to which the District is a party, shall be considered to be the covenants, obligations, and agreements of the District to the fullest extent authorized by law, and each of those covenants, obligations, and agreements shall be binding upon the District, subject to the limitations set forth in this subchapter.
(d) No person, including, but not limited to, any bond owner, shall have any claims against the District or any of its elected or appointed officials, officers, employees, or agents for monetary damages suffered as a result of the failure of the District to perform any covenant, undertaking, or obligation under this subchapter, the bonds, the Financing Documents, or the Closing Documents, or as a result of the incorrectness of any representation in or omission from the Financing Documents or the Closing Documents, unless the District or its elected or appointed officials, officers, employees, or agents have acted in a willful and fraudulent manner.
(Oct. 18, 2005, D.C. Law 16-28, § 12, 52 DCR 8093.)
Section References
This section is referenced in § 2-1217.113.
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.113. District officials

§ 2–1217.113. District officials.
(a) Except as otherwise provided in § 2-1217.112(d), the elected or appointed officials, officers, employees, or agents of the District shall not be liable personally for the payment of the bonds or be subject to any personal liability by reason of the issuance of the bonds, or for any representations, warranties, covenants, obligations, or agreements of the District contained in this subchapter, the bonds, the Financing Documents, or the Closing Documents.
(b) The signature, countersignature, facsimile signature, or facsimile countersignature of any official appearing on the bonds, the Financing Documents, or the Closing Documents shall be valid and sufficient for all purposes notwithstanding the fact that the individual signatory ceases to hold that office before delivery of the bonds, the Financing Documents, or the Closing Documents.
(Oct. 18, 2005, D.C. Law 16-28, § 13, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.114. Maintenance of documents

§ 2–1217.114. Maintenance of documents.
Copies of the specimen bonds and of the final Financing Documents and Closing Documents shall be filed in the Office of the Secretary of the District of Columbia.
(Oct. 18, 2005, D.C. Law 16-28, § 14, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.115. Information reporting

§ 2–1217.115. Information reporting.
Within 3 days after the Mayor’s receipt of the transcript of proceedings relating to the issuance of the bonds, the Mayor shall transmit a copy of the transcript to the Secretary to the Council.
(Oct. 18, 2005, D.C. Law 16-28, § 15, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.116. Disclaimer

§ 2–1217.116. Disclaimer.
(a) The issuance of the bonds is in the discretion of the District. Nothing contained in this subchapter, the bonds, the Financing Documents, or the Closing Documents shall be construed as obligating the District to issue any bonds for the benefit of the Qualifying Schools or to participate in or assist the Qualifying Schools in any way with financing, refinancing, or reimbursing the costs of eligible projects.
(b) The District reserves the right to issue the bonds in the order or priority it determines in its sole and absolute discretion. The District gives no assurance and makes no representations that any portion of any limited amount of bonds or other obligations will be reserved or will be available at the time of the proposed issuance of the bonds.
(Oct. 18, 2005, D.C. Law 16-28, § 16, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-B - Qualified Zone Academy Revenue Bond Projects › § 2–1217.117. Severability

§ 2–1217.117. Severability.
If any particular provision of this subchapter, or the application thereof to any person or circumstance is held invalid, the remainder of this subchapter and the application of such provision to other persons or circumstances shall not be affected thereby. If any action or inaction contemplated under this subchapter is determined to be contrary to the requirements of applicable law, such action or inaction shall not be necessary for the purpose of issuance of the bonds, and the validity of the bonds shall not be adversely affected.
(Oct. 18, 2005, D.C. Law 16-28, § 17, 52 DCR 8093.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.132. Findings

§ 2–1217.132. Findings.
The Council finds that:
(1) The Southwest Waterfront is a section of the District that requires financial assistance for its redevelopment because the scale of the project includes rebuilding the majority of the neighborhood and replacing existing infrastructure. The project will aid in the redevelopment by providing financial assistance to support the portions of the Southwest Waterfront that will revert to the District as publicly owned infrastructure and parks.
(2) Section 1-204.90 provides that the Council may, by act, authorize the issuance of District bonds to borrow money to finance, refinance, or reimburse, and to assist in the financing, refinancing, or reimbursing of, undertakings in certain areas designated in § 1-204.90 where the ultimate obligation to repay the bonds is that of one or more governmental persons or entities.
(3) Section 1-204.90 provides that bonds may be issued to assist in undertakings for the economic development of the District.
(4) The authorization, issuance, sale, and delivery of bonds for the payment of costs of the project are desirable, are in the public interest, and will accomplish the purposes and intent of § 1-204.90.
(Oct. 22, 2008, D.C. Law 17-252, § 102, 55 DCR 9251.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.133. Creation of the Southwest Waterfront Fund

§ 2–1217.133. Creation of the Southwest Waterfront Fund.
(a) There is established as a nonlapsing fund the Southwest Waterfront Fund. The Available Sales Tax Revenues, the Southwest Waterfront Special Assessment (if any), and the Southwest Waterfront PILOT Increment shall be deposited into the Southwest Waterfront Fund. The Chief Financial Officer shall pay from the Southwest Waterfront Fund the Southwest Waterfront PILOT Base Amount into the General Fund of the District of Columbia. The Mayor may pledge and create a security interest in the funds in the Southwest Waterfront Fund to finance, refinance, or reimburse Development Costs of the project, to pay the Debt Service, or to secure bonds without further action by the Council as permitted by § 1-204.90(f). The Chief Financial Officer shall pay from the Southwest Waterfront Fund the annual costs of administering the Southwest Waterfront Improvement Benefit District established by § 47-895.02. If bonds are issued, the payment shall be made in accordance with the provisions of the Financing Documents entered into by the District in connection with the issuance of the bonds.
(b) If, at the end of any fiscal year of the District following the issuance of the bonds, the value of cash and investments in the Southwest Waterfront Fund exceeds the amount of all payments authorized by this subchapter and the Financing Documents during the upcoming fiscal year, the excess shall be transferred to the General Fund of the District of Columbia unless the District elects to use the excess to redeem the bonds prior to maturity.
(Oct. 22, 2008, D.C. Law 17-252, § 103, 55 DCR 9251.)
Section References
This section is referenced in § 2-1217.131, § 2-1217.134, and § 47-895.01.
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.134. Creation of the Southwest Waterfront PILOT/TIF Area

§ 2–1217.134. Creation of the Southwest Waterfront PILOT/TIF Area.
(a) There is created the Southwest Waterfront PILOT/TIF Area, the Available Sales Tax Revenues from which shall be allocated as provided in this subchapter.
(b) Beginning on the Commencement Date, the Available Sales Tax Revenues from the Southwest Waterfront PILOT/TIF Area shall be allocated and paid into the Southwest Waterfront Fund and used for any of the purposes described in § 2-1217.133. The termination date for the allocation of Available Sales Tax Revenues shall be the earlier of:
(1) September 30, 2044; or
(2) The day after all of the bonds are paid or provided for and are no longer outstanding pursuant to their terms.
(Oct. 22, 2008, D.C. Law 17-252, § 104, 55 DCR 9251.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.135. Bond authorization

§ 2–1217.135. Bond authorization.
(a) The Council approves and authorizes the issuance of one or more series of bonds in an aggregate principal amount not to exceed $198 million. The bonds, which may be issued from time to time, in one or more series, shall be tax-exempt or taxable as the Mayor shall determine and shall be payable and secured as provided in § 2-1217.136; provided, that within 60 days prior to the issuance of any bonds, the Chief Financial Officer shall submit to the Mayor and the Council a report to determine the subsidy level needed from the District for the project.
(b) The proceeds of the bonds shall be used as follows:
(1) An amount not to exceed $148 million in 2008 dollars (adjusted for inflation by the Consumer Price Index) may be used for payment of Development Costs; and
(2) The balance of the proceeds may be used to pay the financing costs incurred by the District and to fund capitalized interest and required reserves.
(c) The Mayor may pay from the proceeds of the bonds the financing 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.
(Oct. 22, 2008, D.C. Law 17-252, § 105, 55 DCR 9251.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.136. Payment and security

§ 2–1217.136. Payment and security.
(a) Except as may be otherwise provided in this subchapter, Debt Service shall be payable from proceeds received from the sale of the bonds, income realized from the temporary investment of those proceeds, receipts and revenues deposited into the Southwest Waterfront Fund, including income realized from the investment of those receipts and revenues, and other funds that, as provided in the Financing Documents, may be made available to the District for payment of the bonds from sources other than the District, all as provided for in the Financing Documents.
(b) There is further allocated to payment of Debt Service the Available Increment, subordinate to the allocation of the Available Increment to the Budgeted Reserve, as defined in the Reserve Agreement, all as more fully described in the Reserve Agreement and to the extent that the Reserve Agreement continues to apply to the Available Increment, to be used for the payment of Debt Service to the extent that the revenues allocated in subsection (a) of this section are inadequate to pay Debt Service. The allocation of Available Increment authorized by this subsection shall be made in compliance with all existing contractual obligations of the District with respect to the Available Increment and shall terminate on the date on which all of the bonds are paid or provided for and are no longer outstanding pursuant to their terms.
(c) Payment of the bonds shall be secured as provided in the Financing Documents and by an assignment by the District for the benefit of the bond holders of certain of its rights under the Financing Documents and Closing Documents to the trustee for the bonds pursuant to the Financing Documents.
(d) The trustee is authorized to deposit, invest, and disburse the proceeds received from the sale of the bonds pursuant to the Financing Documents.
(Oct. 22, 2008, D.C. Law 17-252, § 106, 55 DCR 9251.)
Section References
This section is referenced in § 2-1217.135.
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.138. Sale of the bonds

§ 2–1217.138. Sale of the bonds.
(a) The bonds of any series may be sold at negotiated or competitive sale at, above, or below par, to one or more persons or entities, and upon terms that the Mayor considers to be in the best interests of the District.
(b) The Mayor or an Authorized Delegate may execute, in connection with each sale of the bonds, offering documents on behalf of the District, may deem final any such offering document on behalf of the District for purposes of compliance with federal laws and regulations governing such matters, and may authorize the distribution of the documents in connection with the bonds.
(c) The Mayor is authorized to deliver the executed and sealed bonds, on behalf of the District, for authentication, and, after the bonds have been authenticated, to deliver the bonds to the original purchasers of the bonds upon payment of the purchase price.
(d) The bonds shall not be issued until the Mayor receives an approving opinion from Bond Counsel as to the validity of the bonds of such series and, if the interest on the bonds is expected to be exempt from federal income taxation, the treatment of the interest on the bonds for purposes of federal income taxation.
(e) Unit A of Chapter 3 of this title and subchapter III-A of Chapter 3 of Title 47 shall not apply to any contract the Mayor may from time to time enter into, or the Mayor may determine to be necessary or appropriate, for purposes of D.C. Law 17-252.
(Oct. 22, 2008, D.C. Law 17-252, § 108, 55 DCR 9251.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.139. Financing and Closing Documents

§ 2–1217.139. Financing and Closing Documents.
(a) The Mayor is authorized to prescribe the final form and content of all Financing Documents and all Closing Documents to which the District is a party that may be necessary or appropriate to issue, sell, and deliver the bonds.
(b) The Mayor is authorized to execute, in the name of the District and on its behalf, the Financing Documents and any Closing Documents to which the District is a party by the Mayor’s manual or facsimile signature.
(c) If required, the official seal of the District, or a facsimile of it, shall be impressed, printed, or otherwise reproduced on the bonds, the other Financing Documents, and the Closing Documents to which the District is a party.
(d) The Mayor’s execution and delivery of the Financing Documents and the Closing Documents to which the District is a party shall constitute conclusive evidence of the Mayor’s approval, on behalf of the District, of the final form and content of the executed Financing Documents and the executed Closing Documents.
(e) The Mayor is authorized to deliver the executed and sealed Financing Documents and Closing Documents, on behalf of the District, prior to or simultaneously with the issuance, sale, and delivery of the bonds, and to ensure the due performance of the obligations of the District contained in the executed, sealed, and delivered Financing Documents and Closing Documents.
(Oct. 22, 2008, D.C. Law 17-252, § 109, 55 DCR 9251.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.140. Limited liability

§ 2–1217.140. Limited liability.
(a) The bonds shall be special obligations of the District. The bonds shall be without recourse to the District. The bonds shall not be general obligations of the District, shall not be a pledge of, or involve, the faith and credit or the taxing power of the District (other than the taxes and revenues allocated to the Southwest Waterfront Fund and the Available Increment), shall not constitute a debt of the District, and shall not constitute lending of the public credit for private undertakings as prohibited in § 1-206.02(a)(2).
(b) The bonds shall not give rise to any pecuniary liability of the District and the District shall have no obligation with respect to the purchase of the bonds.
(c) No person, including, but not limited to, any bond holder, shall have any claims against the District or any of its elected or appointed officials, officers, employees, or agents for monetary damages suffered as a result of the failure of the District to perform any covenant, undertaking, or obligation under this subchapter, the bonds, the Financing Documents, or the Closing Documents, or as a result of the incorrectness of any representation in or omission from the Financing Documents or the Closing Documents, unless the District or its elected or appointed officials, officers, employees, or agents have acted in a willful and fraudulent manner.
(Oct. 22, 2008, D.C. Law 17-252, § 110, 55 DCR 9251.)
Section References
This section is referenced in § 2-1217.141.
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.141. District officials

§ 2–1217.141. District officials.
(a) Except as otherwise provided in § 2-1217.140(c), the elected or appointed officials, officers, employees, or agents of the District shall not be liable personally for the payment of the bonds, be subject to any personal liability by reason of the issuance of the bonds, or be personally liable for any representations, warranties, covenants, obligations, or agreements of the District contained in this subchapter, the bonds, the Financing Documents, or the Closing Documents.
(b) The signature, countersignature, facsimile signature, or facsimile countersignature of any official appearing on the bonds, the Financing Documents, or the Closing Documents shall be valid and sufficient for all purposes notwithstanding the fact that the individual signatory ceases to hold that office before delivery of the bonds, the Financing Documents, or the Closing Documents.
(Oct. 22, 2008, D.C. Law 17-252, § 111, 55 DCR 9251.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.142. Information reporting

§ 2–1217.142. Information reporting.
Within 3 days after the Mayor’s receipt of the transcript of proceedings relating to the issuance of the bonds, the Mayor shall transmit a copy of the transcript to the Secretary to the Council.
(Oct. 22, 2008, D.C. Law 17-252, § 112, 55 DCR 9251.)
2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX-C - Southwest Waterfront Redevelopment › Part A - Bond Financing › § 2–1217.143. Payment In Lieu of Taxes Act not to apply

§ 2–1217.143. Payment In Lieu of Taxes Act not to apply.
D.C. Law 17-252 shall apply notwithstanding the provisions of Part E of subchapter IV of Chapter 3 of Title 1.
(Oct. 22, 2008, D.C. Law 17-252, § 113, 55 DCR 9251.)