Page:United States Statutes at Large Volume 110 Part 2.djvu/905

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PUBLIC LAW 104-184—AUG. 6, 1996 110 STAT. 1697 and Sewer Authority Establishment and Department of Public Works Reorganization Act of 1996 the authority of the Council under subsection (a) to issue revenue bonds, notes, and other obligations to borrow money to finance or assist in the financing or refinancing of undertakings in the area of utilities facilities, pollution control facilities, and water and sewer facilities (as defined in subsection (a)(5)). The Authority may exercise authority delegated to it by the Council as described in the first sentence of this paragraph (whether such delegation is made before or after the date of the enactment of this subsection) only in accordsince with this subsection. "(2) Revenue bonds, notes, and other obligations issued by the District of Columbia Water and Sewer Authority under a delegation of authority described in paragraph (1) shall be issued by resolution of the Authority, and any such resolution shall not be considered to be an act of the Council. "(3) The fourth sentence of section 446 shall not apply to— "(A) any amount (including the smiount of any accrued interest or premium) obligated or expended from the proceeds of the sale of any revenue bond, note, or other obligation issued pursuant to this subsection; "(B) any amount obligated or expended for the payment of the principal of, interest on, or any premium for any revenue bond, note, or other obligation issued pursuant to this subsection; "(C) any amount obligated or expended to secure any revenue bond, note, or other obligation issued pursuant to this subsection; or "(D) any amount obligated or expended for repair, maintenance, and capital improvements to facilities financed pursuant to this subsection.". (2) CONFORMING AMENDMENT.—The fourth sentence of section 446 of such Act (sec. 47-304, D.C. Code) is amended by striking "(f) and (g)(3)" and inserting "(f), (g)(3), and (h)(3)". SEC. 3. TREATMENT OF REVENUES AND OBLIGATIONS. (a) EXCLUSION OF REVENUES FOR PURPOSES OF CAP ON AGGRE- GATE DISTRICT DEBT.— Paragraphs (1) and (3)(A) of section 603(b) of the District of Columbia Self-Government and Governmental Reorganization Act (sec. 47-313(b), D.C. Code) are each amended by inserting after "revenue bonds," the following: "any revenues, charges, or fees dedicated for the purposes of water and sewer facilities described in section 490(a) (including fees or revenues directed to servicing or securing revenue bonds issued for such purposes),". (b) EXCLUSION OF OBLIGATIONS RELATING TO DEBT SERVICING PAYMENTS ON CERTAIN GENERAL OBLIGATION BONDS. — (1) IN GENERAL.— Section 603(b)(2) of such Act (sec. 47- 313(b)(2), D.C. Code) is amended— (A) by striMng "and obKgations" and inserting "obligations"; and (B) by inserting sifter "establishment," the following: "and obligations incurred pursuant to general obligation bonds of the District of Columbia issued prior to October 1, 1996, for the financing of Department of Public Works, Water and Sewer Utility Administration capital projects,".