Page:United States Statutes at Large Volume 109 Part 1.djvu/285

 PUBLIC LAW 104-28—SEPT. 6, 1995 109 STAT. 269 ignated by the Mayor of the District of Columbia for purposes of carrying out any arena preconstruction activities. SEC. 202. PERMITTING CERTAIN DISTRICT REVENUES TO BE PLEDGED AS SECURITY FOR BORROWING. (a) IN GENERAL. —The District of Columbia (including the designated authority described in section 201(c)) may pledge as security for any borrowing undertaken pursuant to section 201(a) any revenues of the District of Columbia which are attributable to the sports arena tax imposed as a result of the enactment of D.C. Act 10-128 (as amended by the Arena Tax Amendment Act of 1994 (D.C. Law 10-315)), upon the transfer of such revenues 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) EXCLUSION OF PLEDGED REVENUES FROM CALCULATION OF ANNUAL AGGREGATE LIMIT ON DEBT. —Any revenues pledged as security by the District of Columbia pursuant to subsection (a) shall be excluded from the determination of the dollar amount equivalent to 14 percent of District revenues under section 603(b)(3)(A) of the District of Columbia Self-Government and Governmental Reorganization Act (sec. 47-313(b)(3)(A), D.C. Code). SEC. 203. NO APPROPRIATION NECESSARY FOR ARENA PRECONSTRUCTION ACTIVITIES. The fourth sentence of section 446 of the District of Columbia Self-Government and Governmental Reorganization Act (sec. 47- 304, D.C. Code) shall not apply with respect to any of the following obligations or expenditures: (1) Borrowing conducted pursuant to section 201(a). (2) The pledging of revenues as security for such borrowing pursuant to section 202(a). (3) The payment of principal, interest, premium, debt servicing, contributions to reserves, or other costs associated with such borrowing. (4) Other obligations or expenditures made to carry out any arena preconstruction activity described in section 204. SEC. 204. ARENA PRECONSTRUCTION ACTIVITIES DESCRIBED. The arena preconstruction activities described in this section are as follows: (1) The acquisition of real property (or rights in real property) to serve as the site of the sports arena and related facilities. (2) The clearance, preparation, grading, and development of the site of the sports arena and related facilities, including the demolition of existing buildings. (3) The provision of sewer, water, and other utility facilities and infrastructure related to the sports arena. (4) The financing of a Metrorail connection to the site and other Metrorail modifications related to the sports arena. (5) The relocation of employees and facilities of the District of Columbia government displaced by the construction of the sports arena and related facilities. (6) The use of environmental, legal, and consulting services (including services to obtain regulatory approvals) for the construction of the sports arena.

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