If any series of bonds is not issued, sold, and delivered to the original purchaser within 3 years of the date of Council approval of a project pursuant to § 47-340.03, the authorization provided in this subchapter with respect to the issuance, sale, and delivery of such series of bonds shall expire.
(Sept. 20, 1995, D.C. Law 11-46, § 15, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
1981 Ed., § 47-340.14.
Structure District of Columbia Code
Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]
Chapter 3 - Budget and Financial Management; Borrowing; Deposit of Funds
Subchapter II-B - Industrial Revenue Bond Forward Commitment Program
§ 47–340.01. Revenue bonds and other obligations
§ 47–340.02. Bond authorization
§ 47–340.03. Council review for each individual project
§ 47–340.04. Details of each series of bonds
§ 47–340.05. Sale of the bonds
§ 47–340.06. Payment and security
§ 47–340.07. Financing and closing documents
§ 47–340.08. Authorized delegation of authority
§ 47–340.09. Limited liability
§ 47–340.10. District officials
§ 47–340.11. Maintenance of documents