Page:United States Statutes at Large Volume 109 Part 1.djvu/153

 PUBLIC LAW 104-8—APR. 17, 1995 109 STAT. 137 lumbia under section 448(a)(4) of the District of Columbia Self-Government and Governmental Reorganization Act). (2) CONSULTATION WITH INSPECTOR GENERAL.—In making the determination under this subsection, the Authority shall consult with the Inspector General of the District of Columbia. (c) CONTROL PERIOD DEEMED TO EXIST UPON ENACTMENT.— For purposes of this subtitle, a control period is deemed to exist upon the enactment of this Act. Subtitle B—Issuance of Bonds SEC. 211. AUTHORITY TO ISSUE BONDS. (a) IN GENERAL.— (1) REQUEST OF MAYOR. — Subject to the requirements of this subtitle, the Authority may at the request of the Mayor pursuant to an Act of the Council issue bonds, notes, or other obligations to borrow funds to obtain funds for the use of the District government, in such amounts and in such manner as the Authority considers appropriate. (2) SPECIAL RULE FOR INSTRUMENTALITIES WITH INDEPEND- ENT BORROWING AUTHORITY.— In the case of an agency or instrumentality of the District government which under law has the authority to issue bonds, notes, or obligations to borrow funds without the enactment of an Act of the Council, the Authority may issue bonds, notes, or other obligations to borrow funds for the use or functions of such agency or instrumentality at the request of the head of the agency or instrumentality. (b) DEPOSIT OF FUNDS OBTAINED THROUGH BORROWING WITH AUTHORITY. — Any funds obtained by the District government through borrowing by the Authority pursuant to this subtitle shall be deposited into an escrow account held by the Authority, which shall allocate such funds to the District government in such amounts and at such times as the Authority considers appropriate, consistent with the specified purposes of such funds and the applicable financial plan and budget under subtitle A. (c) USES OF FUNDS OBTAINED THROUGH BONDS.—Any funds obtained through the issuance of bonds, notes, or other obligations pursuant to this subtitle may be used for any purpose (consistent with the applicable financial plan and budget) under subtitle A for which the District government may use borrowed funds under the District of Columbia Self-Government and Governmental Reorganization Act and for any other purpose which the Authority considers appropriate. SEC. 212. PLEDGE OF SECURITY INTEREST IN REVENUES OF DISTRICT GOVERNMENT. (a) IN GENERAL. — The Authority may pledge or grant a security interest in revenues to individuals or entities purchasing bonds, notes, or other obligations issued pursuant to this subtitle. (b) DEDICATION OF REVENUE STREAM FROM DISTRICT GOVERN- MENT. —The Authority shall require the Mayor— (1) to pledge or direct taxes or other revenues otherwise payable to the District government (which are not otherwise pledged or committed), including payments from the Federal Government, to the Authority for purposes of securing repay-

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