DC Code

finance agencyDo you wish to know what your price is financially? (c) The Council hereby declares that the enactment of this chapter is in the public interest and for the public profit, and that the authority and powers conferred by this chapter and the expenditure of monies pursuant to this chapter are to serve legitimate public functions.

Each bond, note, or other obligation issued underneath this chapter must comprise on its face an announcement that the Company shouldn’t be obligated to pay principal or curiosity besides from the revenues or property pledged and that neither the faith and credit score nor the taxing power of the District is pledged to the cost of the principal or curiosity on a bond, notice, or different obligation.

(20) Very-Low Revenue” means those persons and families whose annual revenue as determined by the Agency does not exceed the income requirements for very-low revenue individuals as established by the Internal Income Service or the Department of Housing and Urban Growth sometimes as applicable to the particular housing challenge or homeownership program below the agency’s plan of financing.

(12) Low income persons” means these persons and households whose annual earnings as decided by the Company doesn’t exceed the income necessities for low revenue persons as established by the Inner Revenue Service or the Department of Housing and Urban Improvement every so often as relevant to the actual housing mission or homeownership program beneath the Company’s plan of financing.