Code of the District of Columbia

§ 2–1217.109. Allocation of Available Real Property Tax Revenues.

Within 60 days after the approval of a resolution specified in § 2-1217.108(c), the Chief Financial Officer shall provide for the allocation of Available Real Property Tax Revenues for the series of the bonds. The Chief Financial Officer shall transfer collected Available Real Property Tax Revenues to the appropriate QZAB Pledged Account in the amounts and at the times specified in the QZAB Collection Agreement and the Financing Documents. Monies held or to be held in a QZAB Pledged Account may be used to pay Issuance Costs associated with the bonds, to pay the principal of the series of the bonds, and to pay other amounts authorized by this subchapter. The QZAB Pledged Accounts shall be non-lapsing.