Application of assessment.
The CFO shall establish the New York Avenue Metrorail Benefit Area Account within the General Fund for the deposit and application of special assessment revenues from the New York Avenue Metrorail Benefit Area. Monies held, or to be held, in New York Avenue Metrorail Benefit Area Account shall be used to pay the principal of, and interest on, the General Obligation Bonds or any other then outstanding District of Columbia general obligation bonds. When the total aggregate deposits into the New York Avenue Metrorail Benefit Area Account are equal to the Special Assessment Total Collection Amount, the CFO shall so certify to the Mayor.
Annotations
Oct. 26, 2001, D.C. Law 14-44, § 2, 48 DCR 7665 For temporary (90 day) addition of section, see § 2 of New York Avenue Metro Special Assessment Authorization Legislative Review Emergency Act of 2001 (D.C. Act 14-115, August 3, 2001, 48 DCR 7652). For temporary (90 day) addition of section, see § 2 of New York Avenue Metro Special Assessment Authorization Emergency Act of 2001 (D.C. Act 14-64, June 6, 2001, 48 DCR 5714). For temporary (225 day) addition of section, see § 2(b) of New York Avenue Metro Special Assessment Authorization Temporary Act of 2001 (D.C. Law 14-25, October 2, 2001, law notification 48 DCR 9564). This section is referenced in § 47-881 and § 47-883.
Sourced from the DC Council Open Law Library (public domain).
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