{"data":{"id":"us-dc/d.c.-code-2-1217.39f","jurisdiction":"us-dc","citation":"D.C. Code § 2-1217.39f","heading":"Payment and security.","body":"(a)\nFor the Class A Bonds.\n(1)\nExcept as may be otherwise provided in this subpart, the principal of, premium, if any, and interest on, the Class A Bonds, and the payment of ongoing administrative expenses related to the bond financing shall be payable solely from proceeds received from the sale of the Class A Bonds, income realized from the temporary investment of those proceeds, the Available Tax Increment and any other taxes or fees deposited in  the RIA TIF Fund, income realized from the temporary investment of the monies in the RIA TIF Fund  prior to payment to the Class A Bondholders, and other funds that, as provided in the Financing Documents, may be made available to the District for payment of the Class A Bonds from sources other than the District, all as provided for in the Financing Documents\n(2)\nThere is further allocated to the payment of debt service on the Class A Bonds the Available Increment, subordinate to the allocation of Available Increment to the Budgeted Reserve, as defined in the Reserve Agreement, all as more fully described in the Reserve Agreement and to the extent that the Reserve Agreement continues to apply to the Available Increment, to be used for the payment of debt service on the Class A Bonds to the extent that the revenues allocated in paragraph (1) of this subsection are inadequate to pay debt service on the Class A Bonds. The allocation of Available Increment authorized by this subsection shall be made in compliance with all existing contractual obligations of the District with respect to the Available Increment and shall terminate on the date on which all of the Class A Bonds are paid or provided for and are no longer outstanding pursuant to their terms.\n(3)\nPayment of the Class A Bonds shall be secured as provided in the Financing Documents and by an assignment by the District for the benefit of the Class A Bondholders of certain of its rights under the Financing Documents and Closing Documents to the trustee for the Class A Bonds pursuant to the Financing Documents.\n(4)\nThe trustee or paying agent is authorized to deposit, invest, and disburse the proceeds received from the sale of the Class A Bonds pursuant to the Financing Documents.\n\n(b)\nFor the Class B Bonds:\n(1)\nExcept as may be otherwise provided in this subpart, the principal of, premium, if any, and interest on, the  Class B Bonds, and the payment of ongoing administrative expenses related to the Class B Bond financing shall be payable solely from  proceeds received from the sale of the  Class B Bonds and income realized from the temporary investment of those proceeds, the Available Tax Increment and any other taxes of fees deposited in the RIA TIF Fund, income realized from the temporary investment of the monies in the RIA TIF Fund  prior to payment to the  Class B Bondholders, and other funds that, as provided in the Financing Documents, may be made available to the District for payment of the  Class B Bonds from sources other than the District, all as provided for in the Financing Documents.\n(2)\nPayment of debt service on the Class B Bonds from monies deposited in  the RIA TIF Fund or income realized from the temporary investment of those monies  shall be subordinate to (i) the payment of debt service on the Class A Bonds from monies deposited in the RIA TIF Fund or income realized from the temporary investment of those monies and (ii) any reasonable reserves required by the District.\n(3)\nPayment of the Class B Bonds shall be secured as provided in the Financing Documents and by an assignment by the District for the benefit of the Class B Bondholders of certain of its rights under the Financing Documents and Closing Documents to the trustee for the Class B Bonds pursuant to the Financing Documents.\n(4)\nThe trustee or paying agent is authorized to deposit, invest, and disburse the proceeds received from the sale of the Class B Bonds pursuant to the Financing Documents.","path":["Title 2. Government Administration.","Chapter 12. Business and Economic Development.","Subchapter IX. Tax Increment Financing.","Part B. Identified Projects.","Subpart 9. Rhode Island Avenue Project."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/2-1217.39f","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"7fa59cc04d0d31cb0be7108810c0966355019f6d4c8e572a1f469dee3195a048","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-2-1217.39e","next":"us-dc/d.c.-code-2-1217.39g"},"notice":"GroundRules: Original legal text. Not legal advice."}