District Of Columbia § 47-392.09 - Control periods described.
Full text of District Of Columbia D.C. Code § 47-392.09 — Control periods described., with citation guidance and answers to common questions.
§ 47-392.09. Control periods described.
47-392.09For purposes of this Act, a “control period” is initiated upon the occurrence of any of the following events (as determined by the Authority based upon information obtained through the Mayor, the Inspector General of the District of Columbia, or such other sources as the Authority considers appropriate):
The requisitioning by the Mayor of advances from the Treasury of the United States under title VI of the District of Columbia Revenue Act of 1939 (§§ through ), or the existence of any unreimbursed amounts obtained pursuant to such authority;
The failure of the District government to provide sufficient revenue to a debt service reserve fund of the Authority under ;
The default by the District government with respect to any loans, bonds, notes, or other form of borrowing;
The failure of the District government to meet its payroll for any pay period;
The existence of a cash deficit of the District government at the end of any quarter of the fiscal year in excess of the difference between the estimated revenues of the District government and the estimated expenditures of the District government (including repayments of temporary borrowings) during the remainder of the fiscal year or the remainder of the fiscal year together with the first 6 months of the succeeding fiscal year (as determined by the Authority in consultation with the Chief Financial Officer of the District of Columbia);
The failure of the District government to make required payments relating to pensions and benefits for current and former employees of the District government; or
The failure of the District government to make required payments to any entity established under an interstate compact to which the District of Columbia is a signatory.
A control period terminates upon the certification by the Authority that:
The District government has adequate access to both short-term and long-term credit markets at reasonable interest rates to meet its borrowing needs; and
For 4 consecutive fiscal years (occurring after April 17, 1995) the expenditures made by the District government during each of the years did not exceed the revenues of the District government during such years (as determined in accordance with generally accepted accounting principles, as contained in the comprehensive annual financial report for the District of Columbia under ).
In making the determination under this subsection, the Authority shall consult with the Inspector General of the District of Columbia.
For purposes of this part, a control period is deemed to exist beginning April 17, 1995.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 47-392.09
What does D.C. Code § 47-392.09 cover?
Section 47-392.09 ("Control periods described.") 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 § 47-392.09?
A common citation format is "D.C. Code § 47-392.09" (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 § 47-392.09 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.