Page:United States Statutes at Large Volume 109 Part 1.djvu/114

 109 STAT. 98 PUBLIC LAW 104^-8 —APR. 17, 1995 Sec. 213. Establishment of debt service reserve fund. Sec. 214. Other requirements for issuance of bonds. Sec. 215. No full faith and credit of the United States. Subtitle C—Other Duties of Authority Sec. 221. Duties of Authority during year other than control year. Sec. 222. General assistance in achieving financial stability and management efficiency. Sec. 223. Obtaining reports. Sec. 224. Reports and comments. TITLE III—MISCELLANEOUS PROVISIONS Sec. 301. Other District budget reforms. Sec. 302. Establishment of Chief Financial Officer of District of Columbia. Sec. 303. Revisions to powers and duties of Inspector General of District of Columbia. Sec. 304. Council approval of certain contracts. Sec. 305. Definitions. SEC. 2. FINDINGS; PURPOSE. (a) FINDINGS. —Congress finds the following: (1) A combination of accumulated operating deficits, cash shortages, management inefficiencies, and deficit spending in the current fiscal year have created a fiscal emergency in the District of Columbia. (2) As a result of its current financial problems and management inefficiencies, the District of Columbia government fails to provide its citizens with effective and efficient services in areas such as education, health care, crime prevention, trash collection, drug abuse treatment and prevention, human services delivery, and the supervision and training of government personnel. (3) The current financial and management problems of the District government have already adversely affected the long-term economic health of the District of Columbia by causing the migration of residents and businesses out of the District of Columbia and the failure of new residents and businesses to move to the District of Columbia. (4) The fiscal and management problems in the District of Columbia government are pervasive across all segments of the government. (5) A comprehensive approach to fiscal, management, and structural problems must be undertaken which exempts no part of the District government and which preserves home rule for the citizens of the District of Columbia. (6) The current deficit of the District of Columbia must be resolved over a multi-year period, since it cannot be effectively addressed in a single year. (7) The ability of the District government to obtain funds from capital markets in the future will be severely diminished without Congressional action to restore its financial stability. (8) The failure to improve the financial situation of the District government will adversely affiect the long-term economic health of the entire National Capital region. (9) The efficient operation of the Federal Government may be adversely affected by the current problems of the District of Columbia not only through the services the District government provides directly to the Federal Government but through services provided indirectly such as street and traffic flow maintenance, public safety, and services affecting tourism. (b) PURPOSE. — The purposes of this Act are as follows:

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