A bill to amend the District of Columbia Self-Government and Governmental Reorganization Act to allow the issuance of general obligation bonds for certain purposes, to extend and alter the authority of the Secretary of the Treasury to make certain interim loans and advances to the District of Columbia, and for other purposes.

Summary

Amends the District of Columbia Self-Government and Governmental Reorganization Act to authorize the District to issue general obligation bonds to: (1) fund District deficits; (2) fund any debt service reserve fund; and (3) pay any costs incidental to the issuance of such bonds. Extends the authority of the Secretary of the Treasury to lend the District money for capital projects. Amends the District of Columbia Revenue Act of 1937 to require that any funds advanced by the Secretary to meet the District's general expenses shall be advanced as a loan bearing an interest rate related to the current interest rate on outstanding marketable U.S. obligations.

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Documents

1 official file

• Introduced in House

  summary · EN · 8 September 1982

  Open at official source

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