District of Columbia § 47-3401.03 Security for advances.

District of Columbia Statutes

§ 47-3401.03 — Security for advances.

District of Columbia § 47-3401.03

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

Ch. 34Miscellaneous Provisions.

This text of District of Columbia § 47-3401.03 (Security for advances.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 47-3401.03 (2026).

Text

(a)The Secretary shall require the District government to provide such security for any advance made under §§ 47-3401 through 47-3401.04 , as the Secretary determines to be appropriate.

(b)As security for any advance made under §§ 47-3401 through 47-3401.04 , the Secretary may require the District government to:

(1)Pledge to the Secretary specific taxes and revenue of the District government, if such pledging does not cause the District government to violate existing laws or contracts; and

(2)Establish a debt service reserve fund pledged to the Secretary.

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(a) The Secretary shall require the District government to provide such security for any advance made under §§ 47-3401 through 47-3401.04 , as the Secretary determines to be appropriate.

(b) As security for any advance made under §§ 47-3401 through 47-3401.04 , the Secretary may require the District government to:

(1) Pledge to the Secretary specific taxes and revenue of the District government, if such pledging does not cause the District government to violate existing laws or contracts; and

(2) Establish a debt service reserve fund pledged to the Secretary.

Legislative History

July 26, 1939, 53 Stat. 1118, ch. 367, title VI, § 603; as added Apr. 17, 1995, 109 Stat. 120, Pub. L. 104-8, § 204(c); enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575; renumbered as § 604, Aug. 5, 1997, 111 Stat. 765, Pub. L. 105-33, § 11402(1)