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District of Columbia Code Division I. Government of District. § 2-1225.12. Transfer of AWC assets and liabilities.

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

(a) On October 1, 2007:

(1) Legal and equitable title to all real property, personal property, capital, and intangible assets of the AWC, the SWDC, the SWHC, and any of their subsidiaries, shall transfer, vest, and be titled in the name of the District and the Mayor may exercise any disposition authority related to the property that was previously approved by the Council.

(2) All property, records, and unexpended balances of appropriations, allocations, income, and other funds available to the AWC, the SWDC, and the SWHC, and any of their subsidiaries shall transfer to the District.

(3) The unexpended balances of appropriations, allocations, income and other funds available to the AWC, the SWDC, the SWHC, and any of their subsidiaries shall transfer to the Economic Development Special Account pursuant to § 2-1225.21 [repealed] or to the capital accounts pursuant to § 2-1225.22.

(4) All lawful existing contractual rights and obligations of the AWC, the SWDC, the SWHC, and any of their subsidiaries, except employment contracts, shall transfer to the District, which shall assume all rights, duties, liabilities, and obligations as a successor in interest.

(5) All other existing rights and obligations, including all lawful contractual rights and obligations, and all causes of actions of the AWC, the SWDC, and the SWHC, any or their subsidiaries, shall transfer to the District.

(b) Existing contracts transferred to the District under this section or § 2-1225.02(a), or contracts entered into under a solicitation continued under § 2-1225.13, shall not be subject to Unit A of Chapter 3 of this title.

(c) All real property and other assets transferred pursuant to this section or § 2-1225.02 that are subject to a CDBG subrecipient agreement with the Department of Housing and Community Development shall continue to be subject to the applicable subrecipient agreement until the agreement is amended or terminated or expires and shall be subject to applicable CDBG regulations.

(d) No existing lawful contract or other lawful legal obligation of the AWC, the SWDC, the SWHC, and any of their subsidiaries, transferred pursuant to subsection (a) of this section, shall be abrogated or impaired by the repeal of subchapter XII of this chapter.

(e) Nothing in this section or § 2-1225.02 shall impair the obligations, commitments, pledges, or covenants, or the security made or provided by the AWC, the SWDC, the SWHC, any of their subsidiaries, the Chief Financial Officer, or the Department of Housing and Community Development.

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Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 2-1225.12. Transfer of AWC assets and liabilities. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-2-1225-12/

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