District Of Columbia § 34-1312.07 - Bonds not District liability.
Full text of District Of Columbia D.C. Code § 34-1312.07 — Bonds not District liability., with citation guidance and answers to common questions.
§ 34-1312.07. Bonds not District liability.
34-1312.07The Bonds shall not constitute an indebtedness of the District. The Bonds are not general obligations of the District and are not secured by a pledge of or involve the faith and credit or the taxing power of the District. The Bonds are the special limited obligations of the District payable solely from the DDOT Underground Electric Company Infrastructure Improvement Property. Nothing contained in the Bonds, or in the related financing documents and closing documents, shall create an obligation on the part of the District to make payments with respect to the Bonds from sources other than the DDOT Underground Electric Company Infrastructure Improvement Revenue. The Bonds do not constitute lending of the public credit for private undertakings as prohibited in .
No person, including, but not limited to, any bondholder, shall have any claims against the District or any of its elected or appointed officials, officers, employees, or agents for monetary damages suffered as a result of the failure of the District to perform any covenant, undertaking, or obligation under this chapter, the Bonds, the financing documents, or the closing documents, or as a result of the incorrectness of any representation in or omission from the financing documents or the closing documents.
The District and the electric company shall take such actions as may be reasonably necessary so that the Bonds are not treated as debt on the electric company’s books and records under United States generally accepted accounting principles or by a major United States rating agency, and the Commission shall not take any action or issue any order that may have a contrary effect.
Nothing contained in this chapter shall obligate the electric company to take any action or execute any document that would have the effect of causing the Bonds to be treated as debt on the electric company’s books and records under United States generally accepted accounting principles or by a major United States rating agency.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 34-1312.07
What does D.C. Code § 34-1312.07 cover?
Section 34-1312.07 ("Bonds not District liability.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 34-1312.07?
A common citation format is "D.C. Code § 34-1312.07" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 34-1312.07 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.