Notwithstanding any other provision of law, the amount of borrowing associated with the arena development and construction costs, including, but not limited to, land acquisition, construction, predevelopment, off-site infrastructure, and financing for capital interest and principal, may not exceed $61 million, to be paid from proceeds of the arena tax, established pursuant to § 47-2751 et seq.
(Mar. 5, 1996, D.C. Law 11-98, § 1303, 43 DCR 5; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)
1981 Ed., § 47-398.5.
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 VIII - District of Columbia Convention Center and Sports Arena Authorization
§ 47–396.01. Expenditure of revenues for Convention Center activities
§ 47–398.02. Permitting certain District revenues to be pledged as security for borrowing
§ 47–398.03. No appropriation necessary for arena preconstruction activities
§ 47–398.04. Arena preconstruction activities described
§ 47–398.05. Limitation on amount of borrowing financed by arena tax
§ 47–398.06. Rule of construction regarding revenue bond requirements under Home Rule Act