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District of Columbia Code Division I. Government of District. § 10-1605. Assignment and transfer of Stadium, Parking Facilities, and Stadium Seat Rights.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The Mayor may assign or transfer to an instrumentality or authority of the District:

(1) Ownership of the Stadium and the Parking Facilities;  and

(2) The authority to sell Stadium Seat Rights to the Developer pursuant to the terms of the Term Sheet.

(b) Any revenue received by the District from the sale of the Stadium Seat Rights, including revenue received by an instrumentality or authority of the District pursuant to an assignment or transfer of the authority to sell Stadium Seat Rights pursuant to subsection (a) of this section, shall be dedicated to and expended only for the purposes for which such revenue may be expended under the Term Sheet.

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Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 10-1605. Assignment and transfer of Stadium, Parking Facilities, and Stadium Seat Rights. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-10-1605-07/

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