District Of Columbia § 34-1312.02 - Bond authorization.
Full text of District Of Columbia D.C. Code § 34-1312.02 — Bond authorization., with citation guidance and answers to common questions.
§ 34-1312.02. Bond authorization.
34-1312.02The Council approves and authorizes the issuance of one or more series of Bonds in a total principal amount not to exceed $375 million. The Bonds, which may be issued at any time and from time to time during the 10-year period immediately following May 3, 2014, in one or more series, shall be tax-exempt or taxable as the Mayor shall determine and shall be payable and secured as provided in .
The proceeds of the Bonds shall be used:
To pay the upfront financing costs relating to issuing and delivering the Bonds, including, but not limited to, the Commission’s costs of retaining a financial advisor; and
To pay or reimburse DDOT Underground Electric Company Infrastructure Improvement Costs; provided, that no bond proceeds shall be provided to DDOT pursuant to this chapter until the Commission shall have first approved the Underground Infrastructure Improvement Projects Plan.
The aggregate principal amount of the Bonds issued in connection with financing DDOT Underground Electric Company Infrastructure Improvement Activity shall not, at any time, exceed the total planned cost of the portion of the DDOT Underground Electric Company Infrastructure Improvement Activity and the upfront financing costs approved in the pertinent financing order.
By December 31 of each year during which the Bonds authorized by this chapter have been issued and continuing until the net proceeds of the Bonds have been fully disbursed, DDOT shall file with the Commission an accounting report depicting DDOT’s cumulative receipt of the Bond proceeds during the previous fiscal year and DDOT’s cumulative expenditures of those proceeds.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 34-1312.02
What does D.C. Code § 34-1312.02 cover?
Section 34-1312.02 ("Bond authorization.") 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 § 34-1312.02?
A common citation format is "D.C. Code § 34-1312.02" (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 § 34-1312.02 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.