District of Columbia § 47-340.03 Council review for each individual project.

District of Columbia Statutes

§ 47-340.03 — Council review for each individual project.

District of Columbia § 47-340.03

Title 47Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]

Ch. 3Budget and Financial Management; Borrowing; Deposit of Funds.

Subch. II-BIndustrial Revenue Bond Forward Commitment Program.

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Bluebook

D.C. Code § 47-340.03 (2026).

Text

(a)For each individual project for which there is a proposed bond series issuance, the Mayor shall submit to the Council a resolution of project approval accompanied by a summary description of the proposed project, a listing of the public purpose benefits to be derived from the proposed undertaking, the preliminary legal sufficiency determinations of the Office of the Attorney General for the District of Columbia and bond counsel, and a summary of any finding of approval by the Mayor for a 30-day period of Council review, excluding Saturdays, Sundays, legal holidays, and days of Council recess.

(b)The Council may approve, conditionally approve, or disapprove a proposed project by resolution within 30 days after the Mayor transmits to the Council the information set forth in subsection

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(a) For each individual project for which there is a proposed bond series issuance, the Mayor shall submit to the Council a resolution of project approval accompanied by a summary description of the proposed project, a listing of the public purpose benefits to be derived from the proposed undertaking, the preliminary legal sufficiency determinations of the Office of the Attorney General for the District of Columbia and bond counsel, and a summary of any finding of approval by the Mayor for a 30-day period of Council review, excluding Saturdays, Sundays, legal holidays, and days of Council recess.

(b) The Council may approve, conditionally approve, or disapprove a proposed project by resolution within 30 days after the Mayor transmits to the Council the information set forth in subsection (a) of this section. Failure of the Council to take action on a resolution within the 30-day review period shall be deemed to be Council approval of the project.

(c) The Council shall transmit to the Mayor notice of expiration of the review period under subsections (a) and (b) of this section.

Legislative History

Sept. 20, 1995, D.C. Law 11-46, § 4, 42 DCR 3603; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575; Apr. 13, 2005, D.C. Law 15-354, § 73(a)(1), 52 DCR 2638