The District pledges to the Authority and any holders of bonds that, except as provided in this chapter, the District will not limit or alter rights vested in the Authority to fulfill agreements made with holders of the bonds, or in any way impair the rights and remedies of the holders of the bonds until the bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceedings by or on behalf of the holders of the bonds are fully met and discharged. The Authority is authorized to include this pledge of the District in any agreement with the holders of the bonds.
(Apr. 18, 1996, D.C. Law 11-111, § 211, 43 DCR 548.)
Prior Codifications1981 Ed., § 43-1681.
Effective DatesSection 701 of D.C. Law 11-111 provided that the act, with the exception of sections 208 through 211, shall take effect following approval by the Mayor (or in the event of veto by the Mayor, action by the Council to override the veto), approval by the Financial Responsibility and Management Assistance Authority as provided in section 203(a) of the District of Columbia Financial Responsibility and Management Assistance Authority Act of 1995, approved April 17, 1995 (109 Stat. 116; D.C. Code § 47-392.03(c)), and a 30-day period of Congressional review as provided in section 602 (c)(1) of the District of Columbia Self-Government and Governmental Reorganization Act, approved December 24, 1973 (87 Stat. 813; D.C. Code § 1-206.02(c)(1)), and publication in the District of Columbia Register. Sections 208 through 211 of the act shall take effect upon the enactment by Congress of the legislation proposed in title IV of the act, or of substantially similar legislation.