§ 10–612. Interest on funds borrowed from Administrator of General Services.

The Administrator of General Services and the Mayor of the District of Columbia are authorized to amend existing contracts and agreements by which funds have been loaned or advanced or are obligated to be loaned or advanced to said Mayor, for the acquisition, purchase, construction, establishment, and development of public works, pursuant to the authority of §§ 10-603 to 10-606, or §§ 10-607 to 10-611, so as to provide for the payment of interest on the amounts of such loans and advances to be repaid to the Administrator of General Services at such rate as would, in the opinion of the Secretary of the Treasury, be the lowest interest rate available to the District of Columbia were said District authorized by law to issue and sell obligations to the public at the par value thereof, in a sum equal to the repayable amounts of such loans and advances, maturing serially over a period of 15 years in approximately equal annual installments, including both principal and interest, and secured by a 1st pledge of and lien upon all the general-fund revenues of said District.

(July 1, 1940, 54 Stat. 706, ch. 494, § 1.)

Prior Codifications

1981 Ed., § 9-212.

1973 Ed., § 9-213.

Transfer of Functions

The Federal Emergency Administration of Public Works was consolidated into the Federal Works Agency to be administered by the Public Works Administration by 1939 Reorganization Plan No. 1, §§ 301, 305, 4 F.R. 2729, 53 Stat. 1426. All functions of the Public Works Administration and the Commissioner of Public Works, in the Federal Works Agency, were transferred to the Federal Works Administrator by Executive Order No. 9357, June 30, 1943, 8 F.R. 9041. All functions of the Federal Works Agency and of all agencies thereof, together with all functions of the Federal Works Administrator, were transferred to the Administrator of General Services by § 103(a) of the Act of June 30, 1949, 63 Stat. 380, ch. 288. Both the Federal Works Agency and the Office of Federal Works Administrator were abolished by § 103(b) of the Act of June 30, 1949.

Change in Government

This section originated at a time when local government powers were delegated to a Board of Commissioners of the District of Columbia (see Acts Relating to the Establishment of the District of Columbia and its Various Forms of Governmental Organization in Volume 1). Section 401 of Reorganization Plan No. 3 of 1967 (see Reorganization Plans in Volume 1) transferred all of the functions of the Board of Commissioners under this section to a single Commissioner. The District of Columbia Self-Government and Governmental Reorganization Act, 87 Stat. 818, § 711 ( D.C. Code, § 1-207.11), abolished the District of Columbia Council and the Office of Commissioner of the District of Columbia. These branches of government were replaced by the Council of the District of Columbia and the Office of Mayor of the District of Columbia, respectively. Accordingly, and also pursuant to § 714(a) of such Act ( D.C. Code, § 1-207.14(a)), appropriate changes in terminology were made in this section.