District Of Columbia § 44-951.16 - Debts and borrowing.
Full text of District Of Columbia D.C. Code § 44-951.16 — Debts and borrowing., with citation guidance and answers to common questions.
§ 44-951.16. Debts and borrowing.
44-951.16The Corporation is authorized by the Council pursuant to to incur debt, including lines of credit, to carry out the authorized purposes of the Corporation. The Corporation may, at any time, and from time to time, enter into debt obligations, by resolution of the Board. Debt of the Corporation shall be payable solely from the revenues of the Corporation from whatever source derived and shall not be issued in the form of obligations maturing longer than 5 years, including renewals. The Corporation shall have the power to incur indebtedness regardless of whether the interest payable by the Corporation or the income derived by the holders of the evidence of the indebtedness is, for the purposes of federal taxation, includable in the taxable income of the recipients of these payments or is otherwise not exempt from the imposition of taxable income on the recipients. No official, employee, or agent of the Corporation shall be held personally liable solely because a debt instrument is issued.
Any debt created pursuant to this section shall not:
Be considered general obligation debt of the District for any purpose, including the limitation on the annual aggregate limit on debt of the District of Columbia under ;
Constitute a lending of the public credit for private undertakings for purposes of ;
Be a pledge of or involve the full faith and credit of the District of Columbia, other than with respect to any dedicated taxes; or
Constitute a debt of the District.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 44-951.16
What does D.C. Code § 44-951.16 cover?
Section 44-951.16 ("Debts and borrowing.") 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 § 44-951.16?
A common citation format is "D.C. Code § 44-951.16" (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 § 44-951.16 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.