§ 47-391.07 — Suspension of activities.

District of Columbia § 47-391.07

• Jurisdiction: District of Columbia
• Title 47: Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]
• Ch. 3: Budget and Financial Management; Borrowing; Deposit of Funds.
• Subch. VII: Financial Responsibility and Management Assistance.
• Part A: Establishment and Organization of Authority.

Text

(1) Upon the expiration of the 12-month period which begins on the date that the Authority certifies that all obligations arising from the issuance by the Authority of bonds, notes, or other obligations pursuant to part C of this subchapter have been discharged, and that all borrowings by or on behalf of the District of Columbia pursuant to §§ 47-3401 through 47-3401.04 , have been repaid, the Authority shall suspend any activities carried out under this Act and the terms of the members of the Authority shall expire.

(2) The Authority may not suspend its activities pursuant to paragraph (1) of this subsection at any time during a control year.

(b) Upon receiving notice from the Chairs of the Appropriations Committees of the House of Representatives and the Senate that a control period has been initiated (as described in § 47-392.09 ) at any time after the Authority suspends its activities under subsection (a) of this section, the President shall appoint members of the Authority, and the Authority shall carry out activities under this Act, in the same manner as the President appointed members and the Authority carried out activities prior to such suspension.

Legislative History

Apr. 17, 1995, 109 Stat. 106, Pub. L. 104-8, § 107; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575