Current through codified legislation effective September 18, 2024
Section 2-1217.72 - Limitations on issuance of Bonds(a) Bonds shall not be issued pursuant to this subchapter to the extent the issuance will cause the aggregate principal amount of Bonds issued pursuant to this subchapter and the TIF Act to exceed $500 million; provided, that the aggregate amount of TIF bonds for projects in the Central Business District, as defined in Title 11 of the District of Columbia Municipal Regulations, shall not exceed $300 million.(b) Bonds shall not be issued pursuant to this subchapter after September 30, 2015.(c) The maximum principal amount of bonds that may be issued with respect to the Downtown Retail Priority Area is limited to the amount of bonds issued before March 1, 2013.Sept. 8, 2004, D.C. Law 15-185, § 3, 51 DCR 5941; Mar. 2, 2007, D.C. Law 16-192, § 2003, 53 DCR 6899; Sept. 24, 2010, D.C. Law 18-223, § 7112(b), 57 DCR 6242; Dec. 24, 2013, D.C. Law 20-61, § 8032(a), 60 DCR 12472.Applicability of D.C. Law 20-61: Section 11001 of D.C. Law 20-61 provided that, except as otherwise provided, the act shall apply as of October 1, 2013.