(a) The Council approves and authorizes the issuance of one or more series of bonds
in an aggregate principal amount not to exceed $46.5 million to fund the project. The bonds, which may be issued from time to time, in one or more series, shall be
tax-exempt or taxable as the Mayor shall determine and shall be payable and secured
as provided in § 2-1217.33e.
(b) The proceeds of the bonds shall be used as follows:
(A) An amount not to exceed $35 million may be used for payment of Development Costs
of the project, other than costs described in subparagraph (B) of this paragraph.
(B) An amount not to exceed $11.5 million may be used to pay the financing costs incurred
by the District or the Development Sponsor and to fund capitalized interest and required
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