The Chief Financial Officer shall establish the Southeast Water and Sewer Improvement Benefit District Account within the General Fund of the District of Columbia for the deposit and application of special assessment revenues collected under this subchapter. Subject to lien priority, funds in the Southeast Water and Sewer Improvement Benefit District Account shall be used to pay the principal of, interest on, or other repayment amounts related to the general obligation bonds, notes, other obligations, expenditures, or outlays used to finance or pay for the Southwest Water and Sewer Improvement Project or any other then outstanding District of Columbia general obligation bonds, notes, or other obligations. After the termination of the special assessment under § 47-893(h), any unexpended funds in the Southeast Water and Sewer Improvement Benefit District Account shall be transferred to the Economic Development Special Account or its successor or, if the Economic Development Special Account or a successor to the Economic Development Special Account no longer exists, to the General Fund of the District of Columbia.
CREDIT(S)
(Jan. 29, 2007, D.C. Law 17-89, § 2(b), 54 DCR 11919.)
HISTORICAL AND STATUTORY NOTES
Legislative History of Laws
For Law 17-89, see notes following § 47-891.