1. (a) The authority to issue the Class A Bonds shall expire at 11:59 p.m. on September 30, 2025, if no Bonds have been issued; provided, that the expiration of the authority shall have no effect on any Bonds issued on or prior to the expiration date or on the District's ability to issue Refunding Bonds on a future date. Class A Bonds issued as draw down bonds shall be deemed to have been issued for the purposes of this subsection in their entirety on the date of the first draw of principal on such Class A Bonds.
2. (b) The authority to issue the Class B Bonds shall expire at 11:59 p.m. on September 30, 2030; provided, however, that the expiration of the authority shall have no effect on any Class B Bonds issued prior to the expiration date.

Emergency Legislation

For temporary (90 days) creation of this section, see § 15 of Reunion Square Tax Increment Financing Emergency Act of 2020 (D.C. Act 23-250, Mar. 17, 2020, 67 DCR 3455).

For temporary (90 days) creation of this section, see § 15 of Reunion Square Tax Increment Financing Second Emergency Act of 2020 (D.C. Act 23-370, Aug. 10, 2020, 67 DCR 9689).

For temporary (90 days) amendment of this section, see § 2022(c)(1) of Fiscal Year 2023 Budget Support Emergency Act of 2022 (D.C. Act 24-470, July 13, 2022, 69 DCR 008707).

History

Mar. 16, 2021, D.C. Law 23-202, § 15

Sept. 21, 2022, D.C. Law 24-167, § 2022(c)

Temporary Legislation

For temporary (225 days) creation of this section, see § 15 of Reunion Square Tax Increment Financing Temporary Amendment Act of 2020 (D.C. Law 23-146, Oct. 20, 2020, 67 DCR 9941).