District Of Columbia § 34-1312.04 - Bond details.
Full text of District Of Columbia D.C. Code § 34-1312.04 — Bond details., with citation guidance and answers to common questions.
§ 34-1312.04. Bond details.
34-1312.04The Mayor is authorized to take any action reasonably necessary or appropriate in accordance with this chapter in connection with the preparation, execution, issuance, sale, delivery, security for, and payment of the Bonds of each series, including, but not limited to, determinations of:
The final form, content, designation, and terms of the Bonds, including a determination that the Bonds may be issued in certificated or book-entry form;
The principal amount of the Bonds to be issued and the denominations of the Bonds;
The rate or rates of interest or the method for determining the rate or rates of interest on the Bonds;
The date or dates of issuance, sale, and delivery of, and the payment of interest on the Bonds, and the maturity date or dates of the Bonds;
The terms under which the Bonds may be paid, optionally or mandatorily redeemed, accelerated, tendered, called, or put for redemption, repurchase, or remarketing before their respective stated maturities;
Provisions for the registration, transfer, and exchange of the Bonds and the replacement of mutilated, lost, stolen, or destroyed Bonds;
The creation of any reserve fund, sinking fund, or other fund with respect to the Bonds;
The time and place of payment of interest on the Bonds and for repayment of the Bonds;
Procedures for monitoring the use of the proceeds received from the sale of the Bonds, a copy of which shall be provided to the Commission, to ensure that the proceeds are properly applied and used to accomplish the purposes of the Home Rule Act and this chapter;
Actions necessary to qualify the Bonds under blue sky laws of any jurisdiction where the Bonds are marketed; and
The terms and types of credit enhancement under which the Bonds may be secured.
The Bonds shall contain a legend which shall provide that the Bonds do not constitute an indebtedness of the District, that the Bonds are not general obligations of the District and are not secured by the faith and credit or the taxing power of the District. The legend shall further state that the Bonds are special limited obligations of the District payable solely from the revenues derived from the collection of DDOT Underground Electric Company Infrastructure Improvement Revenue. The legend shall also state that the Bonds do not constitute lending of the public credit for private undertakings, as prohibited in .
The Bonds shall be executed in the name of the District and on its behalf by the manual or facsimile signature of the Mayor and attested by the Secretary of the District by the Secretary’s manual or facsimile signature.
The official seal of the District, or a facsimile of it, shall be impressed, printed, or otherwise reproduced on the Bonds.
The Bonds of any series may be issued in accordance with the terms of an indenture to be entered into by the District and a trustee to be selected by the Mayor, and may be subject to the terms of one or more agreements entered into by the District pursuant to .
The Bonds may be issued at any time or from time to time during the 10-year period specified in in one or more issues and in one or more series.
The Bonds are declared to be issued for essential public and governmental purposes. The Bonds and the interest on the Bonds and the income from the Bonds, and all monies pledged or available to pay or secure the payment of the Bonds, shall at all times be exempt from taxation by the District, except for estate, inheritance, and gift taxes.
The District covenants and agrees that it will not limit or alter the DDOT Underground Electric Company Infrastructure Improvement Revenue pledged to secure the Bonds or the basis on which the DDOT Underground Electric Company Infrastructure Improvement Revenue is collected or allocated, will not take any action to impair the contractual obligations of the District to fulfill the terms of any agreement made with the holders of the Bonds, and will not in any way impair the rights or remedies of the holders of the Bonds, until the Bonds, together with interest on the Bonds, and all costs and expenses in connection with any suit, action, or proceeding by or on behalf of the holders of the Bonds, are fully met and discharged. This covenant and agreement of the District shall be included as part of the contract between the District and the holders of the Bonds.
This chapter constitutes a contract between the District and the holders of the Bonds. To the extent that any acts or resolutions of the Council may be in conflict with this chapter, this chapter shall be controlling.
Consistent with :
Upon the effective date of the pertinent financing order, there is hereby granted a first priority statutory lien to the trustee for the benefit of the holders of the Bonds on all DDOT Underground Electric Company Infrastructure Improvement Property then existing or thereafter arising pursuant to the terms of the financing order;
A pledge made and security interest granted in the DDOT Underground Electric Company Infrastructure Improvement Property created in respect of the Bonds or pursuant to any related financing document shall be valid, binding, and perfected from the time the security interest is created, with or without physical delivery of any funds or any property and with or without any further action;
The lien of the pledge shall be valid, binding, and perfected as against all parties having any claim of any kind in tort, contract, or otherwise against the District, whether or not such party has notice; and
The security interest shall be valid, binding, and perfected whether or not any statement, document, or instrument relating to the security interest is recorded or filed.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 34-1312.04
What does D.C. Code § 34-1312.04 cover?
Section 34-1312.04 ("Bond details.") 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 § 34-1312.04?
A common citation format is "D.C. Code § 34-1312.04" (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 § 34-1312.04 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.