D.C. Code § 1-204.62
This is the official text of D.C. Code § 1-204.62, part of District of Columbia’s Code — part of the compiled statutory law of District of Columbia, published by the state as "Code." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 1-204.62. Contents of borrowing legislation and elections on issuing general obligation bonds.
Official statutory text
(a) The Council may by act authorize the issuance of general obligation bonds for the purposes specified in § 1-204.61 . Such an Act shall contain, at least, provisions:
(1) Briefly describing the projects or categories of projects to be financed by the Act;
(2) Identifying the act authorizing each such project or category of projects;
(3) Setting forth the maximum amount of the principal of the indebtedness which may be incurred for the projects to be financed;
(4) Setting forth the maximum rate of interest to be paid on such indebtedness;
(5) Setting forth the maximum allowable maturity for the issue and the maximum debt service payable in any year; and
(6) Setting forth, in the event that the Council determines in its discretion to submit the question of issuing such bonds to a vote of the qualified voters of the District, the manner of holding such election, the date of such election, the manner of voting for or against the incurring of such indebtedness, and the form of ballot to be used at such election.
(b) Any election held on the question of issuing general obligation bonds must be held before the act authorizing the issuance of such bonds is transmitted to the Speaker of the House of Representatives and the President of the Senate pursuant to § 1-206.02(c) .
(c) Notwithstanding § 1-206.02(c)(1) , the provisions required by paragraph (6) of subsection (a) of this section to be included in any act authorizing the issuance of general obligation bonds shall take effect on the date of the enactment of such act.
(1) Briefly describing the projects or categories of projects to be financed by the Act;
(2) Identifying the act authorizing each such project or category of projects;
(3) Setting forth the maximum amount of the principal of the indebtedness which may be incurred for the projects to be financed;
(4) Setting forth the maximum rate of interest to be paid on such indebtedness;
(5) Setting forth the maximum allowable maturity for the issue and the maximum debt service payable in any year; and
(6) Setting forth, in the event that the Council determines in its discretion to submit the question of issuing such bonds to a vote of the qualified voters of the District, the manner of holding such election, the date of such election, the manner of voting for or against the incurring of such indebtedness, and the form of ballot to be used at such election.
(b) Any election held on the question of issuing general obligation bonds must be held before the act authorizing the issuance of such bonds is transmitted to the Speaker of the House of Representatives and the President of the Senate pursuant to § 1-206.02(c) .
(c) Notwithstanding § 1-206.02(c)(1) , the provisions required by paragraph (6) of subsection (a) of this section to be included in any act authorizing the issuance of general obligation bonds shall take effect on the date of the enactment of such act.
Status: in_force · Read it on the official government site
Need a lawyer in District of Columbia?
Find a District of Columbia lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.