The bill authorizes the issuance of District revenue bonds to finance, refinance, or reimburse costs for the Methodist Home of the District of.
The bill authorizes the District of Columbia to issue revenue bonds, notes, or other obligations to finance, refinance, or reimburse costs for the Methodist Home of the District of Columbia. The proceeds will be used for construction, renovations, and working capital costs. The bonds will be issued in one or more series, with a maximum principal amount of $13.7 million. The Mayor is authorized to execute the necessary documents and oversee the sale of the bonds. The bonds are special obligations of the District, without recourse to the District, and do not constitute a debt of the District.
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