The issuance of Bonds in accordance with this part is authorized. The aggregate principal amount of Bonds which may be issued under this part shall not exceed $500 million; provided, that the aggregate amount of Bonds that may be allocated to benefit directly projects in the Central Business District, as that term is defined in Chapter 17 of Title 11 of the District of Columbia Municipal Regulations (11 DCMR § 1700 et seq.), shall not exceed $300 million.
CREDIT(S)
(Apr. 5, 2005, D.C. Law 15-293, § 6, 52 DCR 1465; Mar.8, 2007, D.C. Law 16-244, § 101, 54 DCR 609.)
HISTORICAL AND STATUTORY NOTES
Effect of Amendments
D.C. Law 16-244 substituted “$500 million; provided, that the aggregate amount of Bonds that may be allocated to benefit directly projects in the Central Business District, as that term is defined in Chapter 17 of Title 11 of the District of Columbia Municipal Regulations (11 DCMR § 1700 et seq.), shall not exceed $300 million” for “$250 million”.
Legislative History of Laws
For Law 15-293, see notes following § 1-308.01.
Law 16-244, the “PILOT Authorization Increase and Arthur Copper/Carollsbury Public Improvements Revenue Bonds Approval Act of 2006”, was introduced in Council and assigned Bill No. 16-929, which was referred to Committee on Finance and Revenue. The Bill was adopted on first and second readings on November 14, 2006, and December 5, 2006, respectively. Signed by the Mayor on December 28 2006, it was assigned Act No. 16-600 and transmitted to both Houses of Congress for its review. D.C. Law 16-244 became effective on March 8, 2007.