MAYOR AND EXECUTIVE AGENCIES - AUDIT STANDARDS FOR GOVERNMENTAL ORGANIZATIONS, PROGRAMS, ACTIVITIES, AND FUNCTIONS - NOTICE OF ACTIONS WITH REGARD TO ISSUANCE OF DEBT INSTRUMENTS


Published: 1980-06-06

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905 NOTICE OF ACTIONS WITH REGARD TO ISSUANCE OF DEBT INSTRUMENTS

905.1 The requirements of this section shall apply to every department, agency, or other instrumentality of the government of the District of Columbia which, with regard to the issuance of bonds or other debt instruments, does any of the following:

(a) Solicits proposals from, contracts with, or pays for the services of any of the following:

(1) Financial advisor;

(2) Legal counsel;

(3) Underwriter;

(4) Transfer agent; or

(5) Registrar;

(b) Disseminates any draft or final official statement or prospectus.

905.2 Any department, agency, or instrumentality taking any of the actions described in ยง 905.1 shall file with the Office of the District of Columbia Auditor a copy of the solicitation for proposals, contract, payment advice, draft of final official statement, or prospectus within five (5) days of taking the action.

905.3 Every department, agency, or instrumentality of the government of the District of Columbia which issues bonds or other debt instruments shall, not later than five (5) days before settlement of the proposed debt issue, give written notice to the Office of the District of Columbia Auditor of the following:

(a) The amount of debt to be incurred;

(b) The term of the obligation;

(c) The coupon or nominal interest rate; and

(d) The total proceeds.

SOURCE: Final Rulemaking published at 27 DCR 3145 (July 18, 1980), incorporating by reference the text of Proposed Rulemaking published at 27 DCR 2439 (June 6, 1980).