Sec. 204. RESTRICTIONS ON BORROWING BY DISTRICT DURING CONTROL YEAR

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## SEC. 204 RESTRICTIONS ON BORROWING BY DISTRICT DURING CONTROL YEAR ###

(a)Prior Approval Required ####

(1)In general The District government may not borrow money during a control year unless the Authority provides prior certification that both the receipt of funds through such borrowing and the repayment of obligations incurred through such borrowing are consistent with the financial plan and budget for the year. ####

(2)Revisions to financial plan and budget permitted If the Authority determines that the borrowing proposed to be undertaken by the District government is not consistent with the financial plan and budget, the Mayor may submit to the Authority a proposed revision to the financial plan and budget in accordance with section 202(e) so that the borrowing will be consistent with the financial plan and budget as so revised. ####

(3)Borrowing described This subsection shall apply with respect to any borrowing undertaken by the District government, including borrowing through the issuance of bonds under part E of title IV of the District of Columbia Self-Government and Governmental Reorganization Act, the exercise of authority to obtain funds from the United States Treasury under title VI of the District of Columbia Revenue Act of 1939 (sec. 47–3401, D.C. Code), or any other means. ####

(4)Special rules for treasury borrowing during fiscal year 1995 #####

(A)No prior approval required during initial period following appointment The District government may requisition advances from the United States Treasury under title VI of the District of Columbia Revenue Act of 1939 (sec. 47–3401, D.C. Code) without the prior approval of the Authority during the 45-day period which begins on the date of the appointment of the members of the Authority (subject to the restrictions described in such title, as amended by subsection (c)). #####

(B)Criteria for approval during remainder of fiscal year The District government may requisition advances described in subparagraph

(A)during the portion of fiscal year 1995 occurring after the expiration of the 45-day period described in such subparagraph if the Authority finds that— ######

(i)such borrowing is appropriate to meet the needs of the District government to reduce deficits and discharge payment obligations; and ######

(ii)the District government is making appropriate progress toward meeting its responsibilities under this Act (and the amendments made by this Act). ###

(b)Deposit of Funds Obtained Through Treasury With Authority ####

(1)Automatic deposit during control year If the Mayor requisitions funds from the Secretary of the Treasury pursuant to title VI of the District of Columbia Revenue Act of 1939 (sec. 47–3401, D.C. Code) during a control year (beginning with fiscal year 1996), such funds shall be deposited by the Secretary into an escrow account held by the Authority, to be used as follows: #####

(A)The Authority shall expend a portion of the funds for its operations during the fiscal year in which the funds are requisitioned, in such amount and under such conditions as are established under the budget of the Authority for the fiscal year under section 106(a). #####

(B)The Authority shall allocate the remainder of such funds to the Mayor at such intervals and in accordance with such terms and conditions as it considers appropriate, consistent with the financial plan and budget for the year and with any other withholding of funds by the Authority pursuant to this Act. ####

(2)Optional deposit during fiscal year 1995 #####

(A)During initial period following appointment If the Mayor requisitions funds described in paragraph

(1)during the 45-day period which begins on the date of the appointment of the members of the Authority, the Secretary of the Treasury shall notify the Authority, and at the request of the Authority shall deposit such funds into an escrow account held by the Authority in accordance with paragraph (1). #####

(B)During remainder of fiscal year If the Mayor requisitions funds described in paragraph

(1)during the portion of fiscal year 1995 occurring after the expiration of the 45-day period described in subparagraph (A), the Secretary of the Treasury shall deposit such funds into an escrow account held by the Authority in accordance with paragraph

(1)at the request of the Authority. ###

(c)Conditions on Requisitions From Treasury Title VI of the District of Columbia Revenue Act of 1939 (sec. 47–3401, D.C. Code) is amended by striking all after the heading and inserting the following: > > ## “SEC. 601 TRANSITIONAL PROVISION FOR SHORT-TERM ADVANCES > > > ### “(a) Transitional Short-Term Advances Made Before October 1, 1995 > > > #### “(1) In general > > If the conditions in paragraph

(2)are satisfied, the Secretary shall make an advance of funds from time to time, out of any money in the Treasury not otherwise appropriated, for the purpose of assisting the District government in meeting its general expenditures, as authorized by Congress. > > > #### “(2) Conditions to making any transitional short-term advance before october 1, 1995 > > The Secretary shall make an advance under this subsection if the following conditions are satisfied: > > > ##### “(A) > > the Mayor delivers to the Secretary a requisition for an advance under this section; > > > ##### “(B) > > as of the date on which the requisitioned advance is to be made, the Authority has not approved a financial plan and budget for the District government as meeting the requirements of the District of Columbia Financial Responsibility and Management Assistance Act of 1995; > > > ##### “(C) > > the date on which the requisitioned advance is to be made is not later than September 30, 1995; > > > ##### “(D) > > the District government has delivered to the Secretary— > > > ###### “(i) > > a schedule setting forth the anticipated timing and amounts of requisitions for advances under this subsection; and > > > ###### “(ii) > > evidence demonstrating to the satisfaction of the Secretary that the District government is effectively unable to obtain credit in the public credit markets or elsewhere in sufficient amounts and on sufficiently reasonable terms to meet the District government's financing needs; > > > ##### “(E) > > the Secretary determines that there is reasonable assurance of reimbursement for the advance from the amount authorized to be appropriated as the annual Federal payment to the District of Columbia under title V of the District of Columbia Self-Government and Governmental Reorganization Act for the fiscal year ending September 30, 1996; and > > > ##### “(F) > > except during the 45-day period beginning on the date of the appointment of the members of the Authority, the Authority makes the findings described in section 204(a)(4)(B) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995. > > > #### “(3) Amount of any transitional short-term advance made before october 1, 1995 > > > ##### “(A) In general > > Except as provided in subparagraph (C), if the conditions described in subparagraph

(B)are satisfied, each advance made under this subsection shall be in the amount designated by the Mayor in the Mayor's requisition for such advance, except that— > > > ###### “(i) > > the total amount requisitioned under this subsection during the 30-day period which begins on the date of the first requisition made under this subsection may not exceed 33⅓ percent of the fiscal year 1995 limit; > > > ###### “(ii) > > the total amount requisitioned under this subsection during the 60-day period which begins on the date of the first requisition made under this subsection may not exceed 66⅔ percent of the fiscal year 1995 limit; and > > > ###### “(iii) > > the total amount requisitioned under this subsection after the expiration of the 60-day period which begins on the date of the first requisition made under this subsection may not exceed 100 percent of the fiscal year 1995 limit. > > > ##### “(B) Conditions applicable to designated amount > > Subparagraph

(A)applies if the Mayor determines that the amount designated in the Mayor's requisition for such advance is needed to accomplish the purpose described in paragraph (1), and (except during the 45-day period beginning on the date of the appointment of the members of the Authority) the Authority approves such amount. > > > ##### “(C) Aggregate maximum amount outstanding > > The sum of the anticipated principal and interest requirements of all advances made under this subsection may not be greater than the fiscal year 1995 limit. > > > ##### “(D) Fiscal year 1995 limit described > > In this paragraph, the ‘fiscal year 1995 limit’ means the amount authorized to be appropriated to the District of Columbia as the annual Federal payment to the District of Columbia under title V of the District of Columbia Self-Government and Governmental Reorganization Act for the fiscal year ending September 30, 1995. > > > #### “(4) Maturity of any transitional short-term advance made before october 1, 1995 > > > ##### “(A) In general > > Except as provided in subparagraph (B), each advance made under this subsection shall mature on the date designated by the Mayor in the Mayor's requisition for such advance. > > > ##### “(B) Latest permissible maturity date > > Notwithstanding subparagraph (A), the maturity date for any advance made under this subsection shall not be later than October 1, 1995. > > > #### “(5) Interest rate > > Each advance made under this subsection shall bear interest at an annual rate equal to the rate determined by the Secretary at the time that the Secretary makes such advance taking into consideration the prevailing yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the maturity of such advance, plus ⅛ of 1 percent. > > > #### “(6) Deposit of advances > > > ##### “(A) In general > > Except as provided in subparagraph (B), each advance made under this subsection for the account of the District government shall be deposited by the Secretary into such account as is designated by the Mayor in the Mayor's requisition for such advance. > > > ##### “(B) Exception > > Notwithstanding subparagraph (A), if (in accordance with section 204(b)(2) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995) the Authority delivers a letter requesting the Secretary to deposit all advances made under this subsection for the account of the District government in an escrow account held by the Authority, each advance made under this subsection for the account of the District government after the date of such letter shall be deposited by the Secretary into the escrow account specified by the Authority in such letter. > > > ### “(b) Transitional Short-Term Advances Made On or After October 1, 1995 and Before February 1, 1996 > > > #### “(1) In general > > If the conditions in paragraph

(5)of subsection

(a)(other than subparagraph

(F)of paragraph (2)) shall apply to any advance made under this subsection. > > > ##### “(B) Exceptions > > > ###### “(i) New conditions precedent to making advances > > The conditions described in subsection (a)(2) shall apply with respect to making advances on or after October 1, 1995, in the same manner as such conditions apply with respect to making advances before October 1, 1995, except that— > > > ###### “(I) > > subparagraph

(C)(relating to the last day on which advances may be made) shall be applied as if the reference to ‘September 30, 1995’ were a reference to ‘January 31, 1996’; > > > ###### “(II) > > subparagraph

(E)(relating to the Secretary's determination of reasonable assurance of reimbursement from the annual Federal payment appropriated to the District of Columbia) shall be applied as if the reference to ‘September 30, 1996’ were a reference to ‘September 30, 1997’; > > > ###### “(III) > > the Secretary may not make an advance under this subsection unless all advances made under subsection

(a)are fully reimbursed by withholding from the annual Federal payment appropriated to the District of Columbia for the fiscal year ending September 30, 1996, under title V of the District of Columbia Self-Government and Governmental Reorganization Act, and applying toward reimbursement for such advances an amount equal to the amount needed to fully reimburse the Treasury for such advances; and > > > ###### “(IV) > > the Secretary may not make an advance under this subsection unless the Authority has provided the Secretary with the prior certification described in section 204(a)(1) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995. > > > ###### “(ii) New latest permissible maturity date > > The provisions of subsection (a)(4) shall apply with respect to the maturity of advances made after October 1, 1995, in the same manner as such provisions apply with respect to the maturity of advances made before October 1, 1995, except that subparagraph

(B)of such subsection (relating to the latest permissible maturity date) shall apply as if the reference to ‘October 1, 1995’ were a reference to ‘October 1, 1996’. > > > ##### “(C) New maximum amount outstanding > > > ###### “(i) In general > > Except as provided in clause (iii), if the conditions described in clause

(ii)are satisfied, each advance made under this subsection shall be in the amount designated by the Mayor in the Mayor's requisition for such advance. > > > ###### “(ii) Conditions applicable to designated amount > > Clause

(i)applies if the Mayor determines that the amount designated in the Mayor's requisition for such advance is needed to accomplish the purpose described in paragraph (1), and the Authority approves such amount. > > > ###### “(iii) Aggregate maximum amount outstanding > > The sum of the anticipated principal and interest requirements of all advances made under this paragraph may not be greater than 60 percent of the fiscal year 1996 limit. > > > ##### “(D) Deposit of advances > > As provided in section 204(b) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995, each advance made under this subsection for the account of the District shall be deposited by the Secretary into an escrow account held by the Authority. > > > ##### “(E) Fiscal year 1996 limit described > > In this paragraph, the ‘fiscal year 1996 limit’ means the amount authorized to be appropriated to the District of Columbia as the annual Federal payment to the District of Columbia under title V of the District of Columbia Self-Government and Governmental Reorganization Act for the fiscal year ending September 30, 1996. > > > ### “(c) Transitional Short-Term Advances Made On or After February 1, 1996, and Before October 1, 1996 > > > #### “(1) In general > > If the conditions in paragraph

(2)are satisfied, the Secretary shall make an advance of funds from time to time, out of any money in the Treasury not otherwise appropriated, for the same purpose as advances are made under subsection (a). > > > #### “(2) Terms and conditions > > > ##### “(A) In general > > Except as provided in subparagraph (B), subsection (b)(2) shall apply to any advance made under this subsection. > > > ##### “(B) Exceptions > > The conditions applicable under subsection (b)(2) (other than paragraph (2)(B) of subsection (a)) shall apply with respect to making advances on or after February 1, 1996, and before October 1, 1996, in the same manner as such conditions apply to making advances under such subsection, except that— > > > ###### “(i) > > in applying subparagraph

(C)of subsection (a)(2) (as described in subsection (b)(2)(B)(i)(I)), the reference to ‘October 1, 1995’ shall be deemed to be a reference to ‘September 30, 1996’; > > > ###### “(ii) > > subparagraph (C)(iii) of subsection (b)(2) shall apply as if the reference to ‘60 percent’ were a reference to ‘40 percent’; and > > > ###### “(iii) > > no advance may be made unless the Secretary has been provided the certifications and information described in paragraphs

(3)through

(6)of section 602(b). > > > ### “(d) Transitional Short-Term Advances Made On or After October 1, 1996, and Before October 1, 1997 > > > #### “(1) In general > > If the conditions in paragraph

(5)of subsection

(a)(other than subparagraphs

(B)and

(F)of paragraph (2)) shall apply to any advance made under this subsection. > > > ##### “(B) Exceptions > > > ###### “(i) New conditions precedent to making advances > > The conditions described in subsection (a)(2) shall apply with respect to making advances on or after October 1, 1996, and before October 1, 1997, in the same manner as such conditions apply with respect to making advances before October 1, 1995, except that— > > > ###### “(I) > > subparagraph

(C)(relating to the last day on which advances may be made) shall be applied as if the reference to ‘September 30, 1995’ were a reference to ‘September 30, 1997’; > > > ###### “(II) > > subparagraph

(b)and

(c)are fully reimbursed by withholding from the annual Federal payment appropriated to the District of Columbia for the fiscal year ending September 30, 1997, under title V of the District of Columbia Self-Government and Governmental Reorganization Act, and applying toward reimbursement for such advances an amount equal to the amount needed to fully reimburse the Treasury for such advances; and > > > ###### “(IV) > > the Secretary may not make an advance under this subsection unless the Secretary has been provided the certifications and information described in paragraphs

(3)through

(6)of section 602(b). > > > ###### “(ii) New latest permissible maturity date > > The provisions of subsection (a)(4) shall apply with respect to the maturity of advances made under this subsection, in the same manner as such provisions apply with respect to the maturity of advances made before October 1, 1995, except that subparagraph

(B)of such subsection (relating to the latest permissible maturity date) shall apply as if the reference to ‘September 30, 1995’ were a reference to ‘September 30, 1997’. > > > ##### “(C) New maximum amount outstanding > > > ###### “(i) In general > > Except as provided in clause (iii), if the conditions described in clause

(i)applies if the Mayor determines that the amount designated in the Mayor's requisition for such advance is needed to accomplish the purpose described in paragraph (1), and the Authority approves such amount. > > > ###### “(iii) Aggregate maximum amount outstanding > > The sum of the anticipated principal and interest requirements of all advances made under this paragraph may not be greater than 100 percent of the fiscal year 1997 limit. > > > ###### “(iv) Fiscal year 1997 limit described > > In this subparagraph, the ‘fiscal year 1997 limit’ means the amount authorized to be appropriated to the District of Columbia as the annual Federal payment to the District of Columbia under title V of the District of Columbia Self-Government and Governmental Reorganization Act for the fiscal year ending September 30, 1997. > > > ##### “(D) Deposit of advances > > As provided in section 204(b) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995, each advance made under this subsection for the account of the District shall be deposited by the Secretary into an escrow account held by the Authority. > > > ## “SEC. 602 SHORT-TERM ADVANCES FOR SEASONAL CASH-FLOW MANAGEMENT > > > ### “(a) In General > > If the conditions in subsection

(b)are satisfied, the Secretary shall make an advance of funds from time to time, out of any money in the Treasury not otherwise appropriated, for the purpose of assisting the District government in meeting its general expenditures, as authorized by Congress, at times of seasonal cash-flow deficiencies. > > > ### “(b) Conditions to Making any Short-Term Advance > > The Secretary shall make an advance under this section if— > > > #### “(1) > > the Mayor delivers to the Secretary a requisition for an advance under this section; > > > #### “(2) > > the date on which the requisitioned advance is to be made is in a control period; > > > #### “(3) > > the Authority certifies to the Secretary that— > > > ##### “(A) > > the District government has prepared and submitted a financial plan and budget for the District government; > > > ##### “(B) > > there is an approved financial plan and budget in effect under the District of Columbia Financial Responsibility and Management Assistance Act of 1995 for the fiscal year for which the requisition is to be made; > > > ##### “(C) > > at the time of the Mayor's requisition for an advance, the District government is in compliance with the financial plan and budget; > > > ##### “(D) > > both the receipt of funds from such advance and the reimbursement of the Treasury for such advance are consistent with the financial plan and budget for the year; and > > > ##### “(E) > > such advance will not adversely affect the financial stability of the District government; > > > #### “(4) > > the Authority certifies to the Secretary, at the time of the Mayor's requisition for an advance, that the District government is effectively unable to obtain credit in the public credit markets or elsewhere in sufficient amounts and on sufficiently reasonable terms to meet the District government's financing needs; > > > #### “(5) > > the Inspector General of the District of Columbia certifies to the Secretary the information described in paragraph

(3)by providing the Secretary with a certification conducted by an outside auditor under a contract entered into pursuant to section 208(a)(4) of the District of Columbia Procurement Practices Act of 1985; > > > #### “(6) > > the Secretary receives such additional certifications and opinions relating to the financial position of the District government as the Secretary determines to be appropriate from such other Federal agencies and instrumentalities as the Secretary determines to be appropriate; and > > > #### “(7) > > the Secretary determines that there is reasonable assurance of reimbursement for the advance from the amount authorized to be appropriated as the annual Federal payment to the District of Columbia under title V of the District of Columbia Self-Government and Governmental Reorganization Act for the fiscal year following the fiscal year in which such advance is made. > > > ### “(c) Amount of any Short-Term Advance > > > #### “(1) In general > > Except as provided in paragraph (3), if the conditions in paragraph

(2)are satisfied, each advance made under this section shall be in the amount designated by the Mayor in the Mayor's requisition for such advance. > > > #### “(2) Conditions applicable to designated amount > > Paragraph

(1)applies if— > > > ##### “(A) > > the Mayor determines that the amount designated in the Mayor's requisition for such advance is needed to accomplish the purpose described in subsection (a); and > > > ##### “(B) > > the Authority— > > > ###### “(i) > > concurs in the Mayor's determination under subparagraph (A); and > > > ###### “(ii) > > determines that the reimbursement obligation of the District government for an advance made under this section in the amount designated in the Mayor's requisition is consistent with the financial plan for the year. > > > #### “(3) Maximum amount outstanding > > > ##### “(A) In general > > Notwithstanding paragraph (1), the unpaid principal balance of all advances made under this section in any fiscal year of the District government shall not at any time be greater than 100 percent of applicable limit. > > > ##### “(B) Special rule for fiscal year 1997 > > The unpaid principal balance of all advances made under this section in fiscal year 1997 of the District government shall not at any time be greater than the difference between— > > > ###### “(i) > > 150 percent of the applicable limit for such fiscal year; and > > > ###### “(ii) > > the unpaid principal balance of any advances made under section 601(d). > > > ##### “(C) Applicable limit defined > > In this paragraph, the ‘applicable limit’ for a fiscal year is the amount authorized under title V of the District of Columbia Self-Government and Governmental Reorganization Act for appropriation as the Federal payment to the District of Columbia for the fiscal year following the fiscal year in which the advance is made. > > > ### “(d) Maturity of any Short-Term Advance > > > #### “(1) In general > > Except as provided in paragraph (3), if the condition in paragraph

(2)is satisfied, each advance made under this section shall mature on the date designated by the Mayor in the Mayor's requisition for such advance. > > > #### “(2) Condition applicable to designated maturity > > Paragraph

(1)applies if the Authority determines that the reimbursement obligation of the District government for an advance made under this section having the maturity date designated in the Mayor's requisition is consistent with the financial plan for the year. > > > #### “(3) Latest permissible maturity date > > Notwithstanding paragraph (1), the maturity date for any advance made under this section shall not be later than 11 months after the date on which such advance is made. > > > ### “(e) Interest Rate > > Each advance made under this section shall bear interest at an annual rate equal to a rate determined by the Secretary at the time that the Secretary makes such advance taking into consideration the prevailing yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the maturity of such advance, plus ⅛ of 1 percent. > > > ### “(f) 10-Business-Day Zero Balance Requirement > > After the expiration of the 12-month period beginning on the date on which the first advance is made under this section, the Secretary shall not make any new advance under this section unless the District government has— > > > #### “(1) > > reduced to zero at the same time the principal balance of all advances made under this section at least once during the previous 12-month period; and > > > #### “(2) > > not requisitioned any advance to be made under this section in any of the 10 business days following such reduction. > > > ### “(g) Deposit of Advances > > As provided in section 204(b) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995, advances made under this section for the account of the District government shall be deposited by the Secretary into an escrow account held by the Authority. > > > ## “SEC. 603 SECURITY FOR ADVANCES > > > ### “(a) In General > > The Secretary shall require the District government to provide such security for any advance made under this title as the Secretary determines to be appropriate. > > > ### “(b) Authority To Require Specific Security > > As security for any advance made under this title, the Secretary may require the District government to— > > > #### “(1) > > pledge to the Secretary specific taxes and revenue of the District government, if such pledging does not cause the District government to violate existing laws or contracts; and > > > #### “(2) > > establish a debt service reserve fund pledged to the Secretary. > > > ## “SEC. 604 REIMBURSEMENT TO THE TREASURY > > > ### “(a) Reimbursement Amount > > > #### “(1) In general > > Except as provided in paragraph (2), on any date on which a reimbursement payment is due to the Treasury under the terms of any advance made under this title, the District shall pay to the Treasury the amount of such reimbursement payment out of taxes and revenue collected for the support of the District government. > > > #### “(2) Exceptions for transitional advances > > > ##### “(A) Advances made before october 1, 1995 > > > ###### “(i) Financial plan and budget approved > > If the Authority approves a financial plan for the District government before October 1, 1995, the District government may use the proceeds of any advance made under section 602 to discharge its obligation to reimburse the Treasury for any advance made under section 601(a). > > > ###### “(ii) Financial plan and budget not approved > > If the Authority has not approved a financial plan and budget for the District government by October 1, 1995, the annual Federal payment appropriated to the District government for the fiscal year ending September 30, 1996, shall be withheld and applied to discharge the District government's obligation to reimburse the Treasury for any advance made under section 601(a). > > > ##### “(B) Advances made on or after october 1, 1995 > > > ###### “(i) Financial plan and budget approved > > If the Authority approves a financial plan and budget for the District government during fiscal year 1996, the District may use the proceeds of any advance made under section 602 to discharge its obligation to reimburse the Treasury for any advance made under section 601(b). > > > ###### “(ii) Financial plan and budget not approved > > If the Authority has not approved a financial plan and budget for the District government by October 1, 1996, the annual Federal payment appropriated to the District government for the fiscal year ending September 30, 1997, shall be withheld and applied to discharge the District government's obligation to reimburse the Treasury for any advance made under section 601(b). > > > ### “(b) Remedies for Failure To Reimburse > > If, on any date on which a reimbursement payment is due to the Treasury under the terms of any advance made under this title, the District government does not make such reimbursement payment, the Secretary shall take the actions listed in this subsection. > > > #### “(1) Withhold annual federal payment > > Notwithstanding any other law, before turning over to the Authority (on behalf of the District government under section 205 of the District of Columbia Financial Responsibility and Management Assistance Act of 1995) any annual Federal payment appropriated to the District government for any fiscal year under title V of the District of Columbia Self-Government and Governmental Reorganization Act (if any), the Secretary shall withhold from such annual Federal payment, and apply toward reimbursement for the payment not made, an amount equal to the amount needed to fully reimburse the Treasury for the payment not made. > > > #### “(2) Withhold other federal payments > > If, after the Secretary takes the action described in paragraph (1), the Treasury is not fully reimbursed, the Secretary shall withhold from each grant, entitlement, loan, or other payment to the District government by the Federal Government not dedicated to making entitlement or benefit payments to individuals, and apply toward reimbursement for the payment not made, an amount that, when added to the amount withheld from each other such grant, entitlement, loan, or other payment, will be equal to the amount needed to fully reimburse the Treasury for the payment not made. > > > #### “(3) Attach available district revenues > > If, after the Secretary takes the actions described in paragraphs

(1)and (2), the Treasury is not fully reimbursed, the Secretary shall attach any and all revenues of the District government which the Secretary may lawfully attach, and apply toward reimbursement for the payment not made, an amount equal to the amount needed to fully reimburse the Treasury for the payment not made. > > > #### “(4) Take other actions > > If, after the Secretary takes the actions described in paragraphs

(1)through (3), the Treasury is not fully reimbursed, the Secretary shall take any and all other actions permitted by law to recover from the District government the amount needed to fully reimburse the Treasury for the payment not made. > > > ## “SEC. 605 DEFINITIONS > > “For purposes of this title— > > > #### “(1) > > the term ‘**Authority**’ means the District of Columbia Financial Responsibility and Management Assistance Authority established under section 101(a) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995; > > > #### “(2) > > the term ‘**control period**’ has the meaning given such term under section 305(4) of such Act; > > > #### “(3) > > the term ‘**District government**’ has the meaning given such term under section 305(5) of such Act; > > > #### “(4) > > the term ‘**financial plan and budget**’ has the meaning given such term under section 305(6) of such Act; and > > > #### “(5) > > the term ‘**Secretary**’ means the Secretary of the Treasury.” > . ###

(d)Deposit of Borrowed Funds With Authority If the District government borrows funds during a control year, the funds shall be deposited into an escrow account held by the Authority, to be allocated by the Authority to the Mayor at such intervals and in accordance with such terms and conditions as it considers appropriate, consistent with the financial plan and budget for the year and with any other withholding of funds by the Authority pursuant to this Act. ###

(e)Expenditure of Funds From Account in Accordance With Authority Instructions Any funds allocated by the Authority to the Mayor from the escrow account described in subsection (b)(1) or the escrow account described in subsection

(d)may be expended by the Mayor only in accordance with the terms and conditions established by the Authority at the time the funds are allocated. ###

(f)Prohibition Against Borrowing While Suit Pending The Mayor may not requisition advances from the Treasury pursuant to title VI of the District of Columbia Revenue Act of 1939 if there is an action filed by the Mayor or the Council which is pending against the Authority challenging the establishment of or any action taken by the Authority.