District of Columbia § 47-392.12 Pledge of security interest in revenues of District government.

District of Columbia Statutes

§ 47-392.12 — Pledge of security interest in revenues of District government.

District of Columbia § 47-392.12

JurisdictionDistrict of Columbia

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

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

Subch. VIIFinancial Responsibility and Management Assistance.

Part CIssuance of Bonds.

This text of District of Columbia § 47-392.12 (Pledge of security interest in revenues of District government.) 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 § 47-392.12 (2026).

Text

(a)The Authority may pledge or grant a security interest in revenues to individuals or entities purchasing bonds, notes, or other obligations issued pursuant to this part.

(b)The Authority shall require the Mayor:

(1)To pledge or direct taxes or other revenues otherwise payable to the District government (which are not otherwise pledged or committed), including payments from the Federal Government, to the Authority for purposes of securing repayment of bonds, notes, or other obligations issued pursuant to this part; and

(2)To transfer the proceeds of any tax levied for purposes of securing such bonds, notes, or other obligations to the Authority immediately upon collection.

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(a) The Authority may pledge or grant a security interest in revenues to individuals or entities purchasing bonds, notes, or other obligations issued pursuant to this part.

(b) The Authority shall require the Mayor:

(1) To pledge or direct taxes or other revenues otherwise payable to the District government (which are not otherwise pledged or committed), including payments from the Federal Government, to the Authority for purposes of securing repayment of bonds, notes, or other obligations issued pursuant to this part; and

(2) To transfer the proceeds of any tax levied for purposes of securing such bonds, notes, or other obligations to the Authority immediately upon collection.