Code of the District of Columbia

§ 47–895.34. Termination of Special Assessment.

(a) The authority to levy Special Assessments under this subchapter shall terminate on the day after all the bonds secured by that Special Assessment and issued pursuant to the authority granted in [subchapter II of Chapter 17R of Title 8] are paid for and are no longer outstanding pursuant to their terms. Notwithstanding the preceding sentence, any delinquent Special Assessments and related penalties and interest shall remain due as provided herein until fully paid.

(b) If a property owner elects to pay in full, prior to maturity, all principal and outstanding interest on the Energy Efficiency Loan Agreement, the repayment amount shall be deposited into the applicable Special Energy Assessment Bond Debt Service Account of the Special Energy Assessment Fund.