Page:United States Statutes at Large Volume 111 Part 1.djvu/791

 PUBLIC LAW 105-33—AUG. 5, 1997 111 STAT. 767 " (3) MAXIMUM AMOUNT. —Notwithstanding paragraph (1), the aggregate amount of all advances made under this section shall not be greater than $300,000,000. "(d) MATURITY OF ANY INTERMEDIATE-TERM ADVANCE.— "(1) IN GENERAL. — Except as provided in paragraphs (2) and (3), each advance made under this section shall mature on the date designated by the Mayor in the Mayor's requisition for such advance. "(2) LATEST PERMISSIBLE MATURITY DATE.Notwithstanding paragraph (1), the maturity date for any advance made under this section shall not be later than 10 years from the date on which the first advance under this section is made. "(4) SECRETARY'S RIGHT TO REQUIRE EARLY REIMBURSE- MENT. —Notwithstanding paragraph (1), if the Secretary determines, at any time while any advance made under this section has not been fully reimbursed, that the District is able to obtain credit in the public credit markets or elsewhere in sufficient amounts and on sufficiently reasonable terms, in the judgment of the Secretary, to refinance all or a portion of the unpaid balance of such advance in the public credit markets or elsewhere without adversely affecting the financial stability of the District government, the Secretary may require reimbursement for all or a portion of the unpaid balgince of such advance at any time after the Secretary makes the determination. "(e) INTEREST RATE. —Each advance made under this section shall bear interest at an annual rate equal to a rate determined by the Secretary at the time that the Secretary makes such advance taking into consideration the prevailing yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the repayment schedule of such advance, plus Va of 1 percent. "(f) OTHER TERMS AND CONDITIONS.— Each advance made under this section shall be on such other terms and conditions, including repayment schedule, as the Secretary determines to be appropriate. "(g) DEPOSIT OF ADVANCES.^AS provided in section 204(b) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995, advances made under this section for the account of the District government shall be deposited by the Secretary into an escrow account held by the Authority.". SEC. 11403. CONFORMING AMENDMENTS. (a) AMENDMENT TO SECTION 601. —Section 601 of the District of Columbia Revenue Act of 1939 (DC Code, sec. 47-3401) is amended— (1) in subsection (c)(2)(B)(i)(IV), by striking "602(b)" and inserting "603(b)"; and (2) in subsection (d)(2)(B)(iii), by striking "602(b)" and inserting "603(b)". (b) AMENDMENT TO SECTION 604.— Section 604 of the District of Columbia Revenue Act of 1939 (DC Code, sec. 47-3401.3) is amended— (1) in subsection (a)(2)(A)(i), by striking "602" and inserting "603"; and (2) in subsection (a)(2)(B)(i), by striking "602" and inserting "603".

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