Page:United States Statutes at Large Volume 109 Part 1.djvu/284

 109 STAT. 268 PUBLIC LAW 104-28—SEPT. 6, 1995 1994 (D.C. Law 10-188) and which are obligated or expended for the activities described in subsection (b). (b) ACTIVITIES DESCRIBED.— The activities described in this paragraph are— (1) the operation and maintenance of the existing Washington Convention Center; and (2) preconstruction activities with respect to a new convention center in the District of Columbia, including land acquisition and the conducting of environmental impact studies, architecture and design studies, surveys, and site acquisition. TITLE II—SPORTS ARENA SEC. 201. PERMITTING DESIGNATED AUTHORITY TO BORROW FUNDS FOR PRECONSTRUCTION ACTIVITIES RELATING TO GAL- LERY PLACE SPORTS ARENA. (a) PERMITTING BORROWING.— (1) IN GENERAL. — The designated authority may borrow funds through the issuance of revenue bonds, notes, or other obligations which are secured by revenues pledged in accordance with paragraph (2) to finance, refinance, or reimburse the costs of arena preconstruction activities described in section 204 if the designated authority is granted the authority to borrow funds for such purposes by the District of Columbia government. (2) REVENUE REQUIRED TO SECURE BORROWING.—The designated authority may borrow funds under paragraph (1) to finance, refinance, or reimburse the costs of arena preconstruction activities described in section 204 only if such borrowing is secured (in whole or in part) by the pledge of revenues of the District of Columbia which are attributable to the sports arena tax imposed as a result of the enactment of D.C. Law 10-128 (as amended by the Arena Tax Amendment Act of 1994 (D.C. Act 10-315)) and which are transferred by the Mayor of the District of Columbia to the designated authority pursuant to section 302(a-l)(3) of the Omnibus Budget Support Act of 1994 (sec. 47-2752(a-l)(3), D.C. Code) (as amended by section 2(b) of the Arena Tax Payment and Use Amendment Act of 1995). (b) TREATMENT OF DEBT CREATED.— Any debt created pursuant to subsection (a) shall not— (1) be considered general obligation debt of the District of Columbia for any purpose, including the limitation on the annual aggregate limit on debt of the District of Columbia under section 603(b) of the District of Columbia Self-Government and Governmental Reorganization Act (sec. 47-313(b), D.C. Code); (2) constitute the lending of the public credit for private undertakings for purposes of section 602(a)(2) of such Act (sec. l-233(a)(2), D.C. Code); or (3) be a pledge of or involve the full faith and credit of the District of Columbia. (c) DESIGNATED AUTHORITY DEFINED. —The term "designated authority" means the Redevelopment Land Agency or such other District of Columbia government agency or instrumentality des-

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