District of Columbia § 9-107.56 Issuance of the GARVEE Bonds.

District of Columbia Statutes

§ 9-107.56 — Issuance of the GARVEE Bonds.

District of Columbia § 9-107.56

JurisdictionDistrict of Columbia

Title 9Transportation Systems.

Ch. 1Highway Plans.

Subch. IVFederal-Aid Highway Projects.

Part BTransportation Infrastructure Improvement GARVEE Bonding Financing.

This text of District of Columbia § 9-107.56 (Issuance of the GARVEE Bonds.) 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 § 9-107.56 (2026).

Text

(a)The GARVEE Bonds of any series may be sold at negotiated or competitive sale at, above, or below par, to one or more persons or entities, and upon such terms that the Mayor or an Authorized Signatory considers to be in the best interests of the District.

(b)The Mayor or an Authorized Signatory may execute, in connection with each sale of the GARVEE Bonds, offering documents on behalf of the District, may deem final any such offering document on behalf of the District for purposes of compliance with federal laws and regulations governing such matters, and may authorize the distribution of the documents in connection with the GARVEE Bonds being sold.

(c)The Mayor or an Authorized Signatory is authorized to deliver executed and sealed GARVEE Bonds, on behalf of the District, for authe

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(a) The GARVEE Bonds of any series may be sold at negotiated or competitive sale at, above, or below par, to one or more persons or entities, and upon such terms that the Mayor or an Authorized Signatory considers to be in the best interests of the District.

(b) The Mayor or an Authorized Signatory may execute, in connection with each sale of the GARVEE Bonds, offering documents on behalf of the District, may deem final any such offering document on behalf of the District for purposes of compliance with federal laws and regulations governing such matters, and may authorize the distribution of the documents in connection with the GARVEE Bonds being sold.

(c) The Mayor or an Authorized Signatory is authorized to deliver executed and sealed GARVEE Bonds, on behalf of the District, for authentication, and, after the GARVEE Bonds have been authenticated, to deliver the GARVEE Bonds to the original purchasers of the GARVEE Bonds upon payment of the purchase price.

(d) The GARVEE Bonds shall not be issued until the Mayor receives an approving opinion from Bond Counsel as to the validity of the GARVEE Bonds of such series and, if the interest on the GARVEE Bonds is expected to be exempt from federal income taxation, the treatment of the interest on the GARVEE Bonds for purposes of federal income taxation.

(e) Chapter 3A of Title 2 [ § 2-351.01 et seq.] and subchapter III of Chapter 3 of Title 47 [ § 47-341 et seq. repealed], shall not apply to any contract the Mayor or the Chief Financial Officer may from time to time enter into, or the Mayor or the Chief Financial Officer may determine to be necessary or appropriate, for purposes of this part.