(a) There is established as a nonlapsing fund the Waterfront Park Maintenance Fund (“Fund”), which shall be used solely to pay the expenses of maintaining, operating, and improving the Waterfront Park and the expenses of events held in the Waterfront Park. The Chief Financial Officer shall deposit into the Waterfront Park Maintenance Fund the sales tax revenues attributable to the Waterfront Park Retail Area, revenue from the Waterfront Park Special Assessment, proceeds from the sale of the Anacostia Waterfront Corporation PILOT Revenue Bonds (Anacostia DOT Waterfront Projects) Series 2007 (“PILOT Bond Proceeds”) that are designated by the Mayor from the portion of the PILOT Bond Proceeds set aside for the Waterfront Park, and any income generated by the naming rights to the Waterfront Park into the Waterfront Park Maintenance Fund.
(b) All funds deposited into the Fund, and any interest earned on those funds, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time, but shall be continually available for the uses and purposes set forth in subsection (b) of this section without regard to fiscal year limitation, subject to authorization by Congress.
CREDIT(S)
(Mar. 3, 2010, D.C. Law 18-105, § 4, 57 DCR 11.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 18-105, see notes following § 10-1801.