The Mayor is authorized to take any action reasonably necessary or appropriate in accordance with this chapter in connection with the preparation, execution, issuance, sale, delivery, security for, and payment of the Bonds of each series, including, but not limited to, determinations of: The final form, content, designation, and terms of the Bonds, including a determination that the Bonds may be issued in certificated or book-entry form; The principal amount of the Bonds to be issued and the denominations of the Bonds; The rate or rates of interest or the method for determining the rate or rates of interest on the Bonds; The date or dates of issuance, sale, and delivery of, and the payment of interest on the Bonds, and the maturity date or dates of the Bonds; The terms under which the Bonds may be paid, optionally or mandatorily redeemed, accelerated, tendered, called, or put for redemption, repurchase, or remarketing before their respective stated maturities; Provisions for the registration, transfer, and exchange of the Bonds and the replacement of mutilated, lost, stolen, or destroyed Bonds; The creation of any reserve fund, sinking fund, or other fund with respect to the Bonds; The time and place of payment of interest on the Bonds and for repayment of the Bonds; Procedures for monitoring the use of the proceeds received from the sale of the Bonds, a copy of which shall be provided to the Commission, to ensure that the proceeds are properly applied and used to accomplish the purposes of the Home Rule Act and this chapter; Actions necessary to qualify the Bonds under blue sky laws of any jurisdiction where the Bonds are marketed; and The terms and types of credit enhancement under which the Bonds may be secured. The Bonds shall contain a legend which shall provide that the Bonds do not constitute an indebtedness of the District, that the Bonds are not general obligations of the District and are not secured by the faith and credit or the taxing power of the District. The legend shall further state that the Bonds are special limited obligations of the District payable solely from the revenues derived from the collection of DDOT Underground Electric Company Infrastructure Improvement Revenue. The legend shall also state that the Bonds do not constitute lending of the public credit for private undertakings, as prohibited in § 1-206.02(a)(2) . The Bonds shall be executed in the name of the District and on its behalf by the manual or facsimile signature of the Mayor and attested by the Secretary of the District by the Secretary’s manual or facsimile signature. The official seal of the District, or a facsimile of it, shall be impressed, printed, or otherwise reproduced on the Bonds. The Bonds of any series may be issued in accordance with the terms of an indenture to be entered into by the District and a trustee to be selected by the Mayor, and may be subject to the terms of one or more agreements entered into by the District pursuant to § 1-204.90(a)(4) . The Bonds may be issued at any time or from time to time during the 10-year period specified in § 34-1312.02(a) in one or more issues and in one or more series. The Bonds are declared to be issued for essential public and governmental purposes. The Bonds and the interest on the Bonds and the income from the Bonds, and all monies pledged or available to pay or secure the payment of the Bonds, shall at all times be exempt from taxation by the District, except for estate, inheritance, and gift taxes. The District covenants and agrees that it will not limit or alter the DDOT Underground Electric Company Infrastructure Improvement Revenue pledged to secure the Bonds or the basis on which the DDOT Underground Electric Company Infrastructure Improvement Revenue is collected or allocated, will not take any action to impair the contractual obligations of the District to fulfill the terms of any agreement made with the holders of the Bonds, and will not in any way impair the rights or remedies of the holders of the Bonds, until the Bonds, together with interest on the Bonds, and all costs and expenses in connection with any suit, action, or proceeding by or on behalf of the holders of the Bonds, are fully met and discharged. This covenant and agreement of the District shall be included as part of the contract between the District and the holders of the Bonds. This chapter constitutes a contract between the District and the holders of the Bonds. To the extent that any acts or resolutions of the Council may be in conflict with this chapter, this chapter shall be controlling. Consistent with § 1-204.90(a)(4)(B) : Upon the effective date of the pertinent financing order, there is hereby granted a first priority statutory lien to the trustee for the benefit of the holders of the Bonds on all DDOT Underground Electric Company Infrastructure Improvement Property then existing or thereafter arising pursuant to the terms of the financing order; A pledge made and security interest granted in the DDOT Underground Electric Company Infrastructure Improvement Property created in respect of the Bonds or pursuant to any related financing document shall be valid, binding, and perfected from the time the security interest is created, with or without physical delivery of any funds or any property and with or without any further action; The lien of the pledge shall be valid, binding, and perfected as against all parties having any claim of any kind in tort, contract, or otherwise against the District, whether or not such party has notice; and The security interest shall be valid, binding, and perfected whether or not any statement, document, or instrument relating to the security interest is recorded or filed.
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