(a)(1) The Council approves and authorizes the issuance of one or more series of bonds in an aggregate principal amount not to exceed $82.4 million to fund the project. 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 § 2-1217.36i.
(2) Bonds in the aggregate principal amount of $46.4 million may be issued to pay for the construction of infrastructure and related Development Costs.
(3) Bonds in the aggregate principal amount not to exceed $36 million may be issued to pay for the construction of Retail Parking and related Development Costs.
(b) 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, credit enhancement, marketing, sale, and printing costs and expenses.
Section 7020 of D.C. Law 22-168 repealed section 16 of D.C. Law 22-58 removing the applicability restriction impacting this section. Therefore the creation of this section by D.C. Law 22-58 has been implemented.
Applicability of D.C. Law 22-58: § 16 of D.C. Law 22-58 provided that the creation of this section by § 5 of D.C. Law 22-58 is subject to the inclusion of the law’s fiscal effect in an approved budget and financial plan. Therefore that amendment has not been implemented.