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D.C. Code § 47-340.06

Payment and security.

Official textus-dc/statcode.dccouncil.gov
Summarize

# (a)

The principal of, premium, if any, and interest on the bonds shall be payable solely from proceeds received from the sale of the bonds, income realized from the temporary investment of those proceeds, receipts and revenues realized by the District from the loan, income realized from the temporary investment of those receipts and revenues prior to payment to the bond owners, other moneys that, as provided in the financing documents, may be made available to the District for the payment of the bonds, and other sources, other than the District, of payment, all as provided for in the financing documents.

# (b)

Payment of the bonds shall be secured as provided in the financing documents and by an assignment by the District for the benefit of the bond owners of certain of its rights under the financing documents and closing documents, including a security interest in certain collateral, to the trustee for the bonds pursuant to the financing documents.

# (c)

The trustee is authorized to deposit, invest, and disburse the proceeds received from the sale of the bonds pursuant to the financing documents.

Source: official DC Code section page (code.dccouncil.gov)

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In this chapter (40 sections)
  1. 47-329 · Reserved
  2. 47-330 · Reserved
  3. 47-331 · Reserved
  4. 47-332 · Reserved
  5. 47-333 · Reserved
  6. 47-334 · Definitions.
  7. 47-335 · Permissible security.
  8. 47-335.01 · Borrowing of funds for capital projects.
  9. 47-335.02 · Borrowing limitation.
  10. 47-336 · Definitions.
  11. 47-337 · Capital Review and Debt Affordability Committee.
  12. 47-338 · Duties of the Committee.
  13. 47-339 · Preliminary capital budget and multiyear capital improvements…
  14. 47-339.01 · Capital projects.
  15. 47-340 · Notation of debt service requirement on real property tax…
  16. 47-340.01 · Revenue bonds and other obligations.
  17. 47-340.02 · Bond authorization.
  18. 47-340.03 · Council review for each individual project.
  19. 47-340.04 · Details of each series of bonds.
  20. 47-340.05 · Sale of the bonds.
  21. 47-340.06 · Payment and security.
  22. 47-340.07 · Financing and closing documents.
  23. 47-340.08 · Authorized delegation of authority.
  24. 47-340.09 · Limited liability.
  25. 47-340.10 · District officials.
  26. 47-340.11 · Maintenance of documents.
  27. 47-340.12 · Information reporting.
  28. 47-340.13 · Disclaimer.
  29. 47-340.14 · Expiration.
  30. 47-340.15 · Severability.
  31. 47-340.16 · Conflict of laws.
  32. 47-340.20 · Program fee.
  33. 47-340.21 · Deposit of fees and other monies.
  34. 47-340.22 · Allocation of funds.
  35. 47-340.23 · Use of funds allocated.
  36. 47-340.26 · Definitions.
  37. 47-340.27 · Creation of the Income Tax Secured Bond Fund.
  38. 47-340.28 · Bond authorization.
  39. 47-340.29 · Bond details.
  40. 47-340.30 · Issuance of the bonds.
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