PRINTING IN STATUTES AT LARGE

SEC. 404. Each act (except an act authorizing the issuance of bonds) which has become law, and each law authorizing the issuance of bonds which has been approved in a referendum as provided in section 602, shall be printed in the United States Statutes at Large in the same volume as the public laws.

EXCEPTIONS

SEC. 405. This title shall not apply to acts providing for the issuance of bonds. PART 2-RULES OF THE SENATE AND HOUSE

RULEMAKING POWER OF SENATE AND HOUSE

SEC. 421. The provisions of this part are enacted by the Congress

(1) as an exercise of the rulemaking power of the Senate and the House of Representatives, respectively, and as such they shall be considered as part of the rules of each House, respectively, and such rules shall supersede other rules only to the extent that they are inconsistent therewith; and

(2) with full recognition of the constitutional right of either House to change such rules (so far as relating to the procedure in such House) at any time, in the same manner and to the same extent as in the case of any other rules of such House.

RESOLUTIONS DISAPPROVING ACTS

SEC. 422. (a) As used in this part the term "resolution" means only a resolution of either of the two Houses of Congress which, in the case of any act deposited with the Congress, states in substance that the House whose resolution it is does not favor such act.

(b) The members of the Senate Committee to whom an act has been referred shall have authority at any time to report a resolution to the Senate, and the members of the House Committee to whom an act has been referred shall have authority at any time to report a resolution to the House of Representatives.

(c) (1) When a resolution has been reported, it shall at any time thereafter be in order (even though a previous motion to the same effect has been disagreed to) to move to proceed to the consideration of such resolution. Such motion shall be highly privileged and shall not be debatable. No amendment to such motion shall be in order and it shall not be in order to move to reconsider the vote by which such motion is agreed to or disagreed to.

(2) Debate on the resolution shall be limited to not to exceed six hours, which shall be equally divided between those favoring and those opposing the resolution. A motion further to limit debate shall not be debatable. No amendment to, or motion to recommit, the resolution shall be in order, and it shall not be in order to move to reconsider the vote by which the resolution is agreed to or disagreed to.

(3) All motions to postpone consideration of a resolution, and all motions to proceed in the consideration of other business, shall be decided without debate.

(4) All appeals from the decisions of the Chair relating to the application of the rules of the Senate or the House of Representatives, as the case may be, to the procedure relating to a resolution shall be decided without debate.

DISCHARGE OF COMMITTEE

SEC. 423. (a) If the committee to which has been referred a resolution has not reported it before the expiration of ten calendar days after its introduction, it shall then (but not before) be in order to move either to discharge the committee from further consideration of such resolution.

(b) Such motion may be made only by a person favoring the resolution, shall be highly privileged (except that it may not be made after the committee has reported a similar resolution), and debate thereon shall be limited to not to exceed one hour, to be equally divided between those favoring and those opposing the resolution. No amendment to such motion shall be in order, and it shall not be in order to move to reconsider the vote by which such motion is agreed to or disagreed to.

(c) If the motion to discharge is agreed to or disagreed to, such motion may not be renewed, nor may another motion to discharge the committee be made with respect to any other resolution with respect to the same act.

TITLE V-THE DISTRICT BUDGET

FISCAL YEAR

SEC. 501. The fiscal year of the District of Columbia shall begin on the 1st day of July and shall end on the 30th day of June of the succeeding calendar year. Such fiscal year shall also constitute the budget and accounting year.

BUDETARY DETAILS FIXED BY COMMISSION

SEC. 502. The Commission shall provide for (1) the preparation and submission to it of the annual budget estimates of the District and budget message, (2) the form and contents of the budget and budget message, and (3) the manner and extent to which estimated revenues and proposed expenditures shall be classified and itemized.

ADOPTION OF BUDGET

SEC. 503. The Commission shall by act adopt a budget for each fiscal year not later than April 1, except that the Commission may, by resolution, extend the period for its adoption. Th effective date of the budget shall be July 1 of the same calendar year.

BUDGET ESTABLISHES APPROPRIATIONS

SEC. 504. The adoption of the budget act by the Commission shall, from the date such budget act takes effect, operate to appropriate and to make available for expenditure, for the several objects and purposes therein named, the several amounts stated therein as proposed expenditures, subject to the provisions of section 702.

SUPPLEMENTAL APPROPRIATIONS

SEC. 505. The Commission may at any time adopt an act by vote of twothirds of its members appropriating funds in addition to those theretofore appropriated to the extent unappropriated funds are available; and for such purpose unappropriated funds may include those borrowed in accordance with the provisions of section 621.

TITLE VI-BORROWING

PART 1-BORROWING FOR CAPITAL IMPROVEMENTS

BORROWING POWER; DEBT LIMITATION

SEC. 601. The District may incur indebtedness by issuing its bonds, either negotiable or nonnegotiable, to finance any capital project which it may lawfully construct or acquire: Provided, That the District shall at no time become indebted under this part to an amount in the aggregate exceeding 72 per centum of the assessed value of the taxable real property in the District according to the last general assessment previous to incurring debt: Provided further, That nothing in this part shall affect or be affected by the borrowing authority of the District under other law.

REFERENDUM ON BOND ISSUE

SEC. 602. (a) Bonds shall be issued only when authorized by an act which has taken effect in the manner provided in subsection (b) of this section.

(b) The Commission shall deposit with Congress each act which the Commission passes authorizing the issuance of bonds. No such act shall take effect until it has been specifically approved by an Act of Congress. After such congressional approval of the act proposing the issuance of bonds, the Board of Elections shall submit such act to the qualified electors as defined in section 806 for a referendum thereon at the first election which is held not less than thirty days after the date of enactment of such act. If an act so submitted is

approved by a majority voting thereon, it shall take effect on the day following the day on which the Board of Elections certifies the result of the referendum. (c) The Board of Elections is authorized to prescribe such regulations as may be necessary or appropriate to carry out the provisions of subsection (b) of this section.

CONTENTS OF BORROWING LEGISLATION

SEC. 603. An act authorizing the issuance of bonds for one or more capital projects may be enacted by a majority of the Commission and shall contain at least the following provisions:

(1) A description of each project in brief and general terms sufficient for reasonable identification.

(2) A statement of the estimated maximum cost of each project.

(3) An appropriation for each project.

(4) To finance the project or projects, an authorization of a single bond issue in a stated amount.

(5) A determination of the period of usefulness of each project, and (if the bond issue is for more than one project) the average period of usefulness of all the projects, taking into consideration the amount to be raised for each project by such bond issue.

MAXIMUM MATURITY OF BONDS

SEC. 604. (a) Bonds may be issued for terms not exceeding thirty years. Within such maximum period, (1) bonds issued to finance one capital project shall mature not later than the expiration of the period of usefulness stated in the act authorizing the issue, and (2) bonds issued to finance more than one capital project shall mature not later than the expiration of the average period of usefulness stated in the act authorizing the issue.

(b) The period of usefulness of each project, and the average period in the case of two or more projects combined in one authorized issue, shall be computed from the effective date of the act by virtue of which the bonds are issued. The determination of the Commission in the act, as to the period of usefulness or average period, shall be conclusive in any action or proceeding involving the validity of the bonds.

BONDS PAYABLE IN ANNUAL INSTALLMENTS

SEC. 605. All bonds issued pursuant to this Act shall be paid in consecutive annual installments, no one of which shall be more than 50 per centum in excess of the smallest prior installment. The first annual installment shall be paid not more than one year after the effective date of the act of the Commission by virtue of which the bonds are issued. The last annual installment shall be paid not later than the date of expiration of the period of usefulness of the project for the financing of which such bonds are issued, or of the average period of two or more combined projects, as determined in the act authorizing the issuance of the bonds.

PUBLICATION OF BORROWING LEGISLATION

SEC. 606. Within three days after the effective date of an act authorizing the issuance of bonds the Commission shall cause the same to be published once, as it may direct, together with a notice in substantially the following form:

"NOTICE

"The act authorizing the issuance of bonds published herewith has become effective, and the twenty-day period of limitation within which a suit, action, or proceeding questioning the validty of such ordnance can be commenced as provided in the District of Columbia Charter Act has begun to run from the date of this publication.

"(Signed)

SHORT PERIOD OF LIMITATION

"Mayor".

SEC. 607. When twenty days shall have elapsed after the date of the publication of notice pursuant to section 606 in respect of an act authorizing the issuance of bonds (1) any recitals or statements of fact contained in such act, or in the preambles or recitals thereof, shall be deemed to be true for the purpose of determining the validity of the bonds thereby authorized and the Dis

trict and all others interested shall forever thereafter be estopped from denying the same;

(2) such act shall be conclusively presumed to have been duly and regularly passed by the District and to comply with the provisions of this Act and of all laws; and (3) the validity of such act shall not thereafter be questioned by either a party plaintiff or a party defendant, except in a suit, action, or proceeding commenced prior to the expiration of such twenty days.

PUBLIC SALE

SEC. 608. All bonds issued under this Act shall be sold at public sale upon sealed proposals after (1) at least ten days' notice published at least once in a publication carrying municipal bond notices and devoted primarily to financial news or to the subject of State and municipal bonds, and (2) at least ten days' notice published at least once, as the Commission may direct, in the District. No such proposal shall be considered unless there is deposited with it, as a down payment, a certified check for an amount equal to 10 per centum of the offered purchase price. Whenever a proposal is rejected the check deposited with it shall be returned.

OTHER PROCEEDINGS BY RESOLUTION

SEC. 609. All matters in connection with the authorization, sale, and issuance of the bonds not specifically required to be provided in the act authorizing the issuance of bonds may be determined by the Commission by resolution.

PART 2 SHORT-TERM BORROWING

BORROWING TO MEET SUPPLEMENTAL APPROPRIATIONS

SEC. 621. In the absence of unappropriated available revenues to meet supplemental appropriations made pursuant to section 505, the Commission may by act authorize the issuance of notes, in a total amount not to exceed 5 per centum of the total appropriations for the current fiscal year, each of which shall be designated "supplemental" and may be renewed from time to time, but all such notes and renewals thereof shall be paid not later than the close of the fiscal year following that in which such act becomes effective.

BORROWING IN ANTICIPATION OF REVENUES

SEC. 622. For any budget year, in anticipation of the collection or receipt of revenues of that budget year, the Commission may by act authorize the borrowing of money by the execution of negotiable notes of the District, not to exceed 20 per centum of the total anticipated revenue, each of which shall be designated "Revenue Note for the Budget Year 19 ". Such notes may be renewed from time to time, but all such notes, together with the renewals, shall mature and be paid not later than the end of the budget year for which the original notes have been issued.

NOTES REDEEMABLE PRIOR TO MATURITY

SEC. 623. No notes issued pursuant to this part shall be made payable on demand, but any note may be made subject to redemption prior to maturity on such notice and at such time as may be stated in the note.

SALE OF NOTES

SEC. 624. All notes issued pursuant to this part may be sold at not less than par and accrued interest at private sale without previous advertising.

PART 3-PAYMENT OF BONDS AND NOTES

PAYMENT OF BONDS AND NOTES

SEC. 631. The power and obligation of the District to pay any and all bonds and notes issued by it pursuant to this title shall be unlimited and the Commission shall apply the proceeds of such taxes and other revenues as may be necessary to pay the principal of and the interest on such bonds and notes. The faith and credit of the District is hereby pledged for the payment of the principal of and the interest on all bonds and notes of the District hereafter issued

pursuant to this title, whether or not such pledge be stated in the bonds or notes or in the act authorizing their issuance.

TITLE VII-FINANCIAL AFFAIRS OF THE DISTRICT

PART 1-FINANCIAL ADMINISTRATION

SURETY BONDS

SEC. 701. Each officer and employee of the District required to do so by the Commission shall provide a bond with such surety and in such amount as the Commission may require. The premiums for all such bonds shall be paid out of appropriations for the District.

FINANCIAL DUTIES OF THE FISCAL OFFICER

SEC. 702. The Commission shall appoint a fiscal officer for the District of Columbia. The fiscal officer shall not be a member of the Commission. The fiscal officer shall have charge of the administration of the financial affairs of the District and to that end he shall

(1) prepare and submit in the form and manner prescribed by the Commission under section 502 the annual budget estimates and budget message; (2) supervise and be responsible for the disbursement of all moneys and have control over all expenditures to insure that appropriations are not exceeded;

(3) maintain a general accounting system (including inventory and property control records) for the District government and each of its agencies; keep books for each agency; keep a separate account for each item of appropriation, the amounts paid therefrom, the unpaid obligations against it, and the unencumbered balance; require reports of receipts and disbursements from each receiving and spending agency of the District government to be made daily or at such intervals as he may deem expedient; (4) submit to the Commission a monthly statement of all receipts, disbursements, and obligations in sufficient detail to show the exact financial condition of the District;

(5) prepare, as of the end of each fiscal year, a complete financial statement and report;

(6) supervise and be responsible for the assessment of all property within the corporate limits of the District for taxation, make all special assessments for the District government, prepare tax maps, and give such notice of taxes and special assessments as may be required by law;

(7) supervise and be responsible for the collection of all taxes, special assessments, license fees, and other revenues of the District for the collection of which the District is responsible and receive all money receivable by the District from the Federal Government, or from any courts, or from any agency of the District;

(8) have custody of all public funds belonging to or under the control of the District, or any agency of the District government, and deposit all funds coming into his hands, in such depositories as may be designated and under such terms and conditions as may be prescribed by act of the Commission;

(9) have custody of all investments and invested funds of the District government, or in possession of such government in a fiduciary capacity, and have the safekeeping of all bonds and notes of the District and the receipt and delivery of District bonds and notes for transfer, registration, of exchange; and

(10) approve all proposed expenditures; unless he shall certify that there is an unencumbered balance of appropriation and available funds, no appropriation shall be encumbered and no expenditure shall be made.

ALLOTMENTS; CONTROL OF APPROPRIATIONS

SEC. 703. The Commission may provide for (1) the allotment by periods of the sums appropriated to such departments and agencies for the entire budget year, (2) the transfer during the budget year of any unencumbered appropriation balance for one item of appropriation to another item of appropriation, and (3) the allocation to new items of funds appropriated for contingent expenditure.