§ 4685. Special accounts in Revenue Fund
§ 4685. Special accounts in Revenue Fund The Bank may establish in the Revenue Fund accounts, subaccounts, or special accounts which in its opinion are necessary, desirable, or convenient for its purposes. (Added 1987, No. 55, § 29, eff. May 15, 1987.)
§ 4701. Rights of holders paramount
§ 4701. Rights of holders paramount In order to carry out its purpose under this chapter of making loans to governmental units, by purchase of the municipal bonds or revenue bonds of those governmental units, and by receipt of its income from service charges and from payments of interest on the maturing principal of municipal […]
§ 4702. Default in payment
§ 4702. Default in payment If the Bank defaults in the payment of principal or interest on any issue of notes or bonds after they become due, whether at maturity or upon call for redemption, and the default continues for thirty days, or if the Bank fails or refuses to comply with this chapter or […]
§ 4703. Powers of trustee on default
§ 4703. Powers of trustee on default A trustee appointed under section 4702 of this title may, and shall in his or her or its name, upon written request of the holders of 25 per centum in principal amount of the outstanding notes or bonds: (1) By suit, action, or proceeding, enforce all rights of […]
§ 4704. Superior Court jurisdiction
§ 4704. Superior Court jurisdiction The Superior Courts have jurisdiction of any suit, action, or proceeding by a trustee on behalf of noteholders or bondholders. The venue of any suit, action, or proceeding shall be laid in the County of Washington. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970; 1973, No. […]
§ 4680. Application of funds; excess
§ 4680. Application of funds; excess Money or investments in any fund or account of the Bank established or held for any bonds, notes, indebtedness, or liability to be paid, funded, or refunded by issuance of bonds or notes shall, unless the resolution authorizing the bonds or notes provides otherwise, be applied to the payment […]
§ 4675. Annual appropriation
§ 4675. Annual appropriation In order to assure the maintenance of the required debt service reserve in each reserve fund established pursuant to this chapter, there shall be appropriated annually and paid to the Bank for deposit in each reserve fund, such sum as shall be certified by the Chair of the Bank to the […]
§ 4676. General Fund
§ 4676. General Fund (a) The Bank shall establish and maintain a fund called the “General Fund” in which there shall be deposited: (1) Fees received or charges made by the Bank for use of its services or facilities; (2) Any monies which the Bank shall transfer thereto from the reserve fund pursuant to section […]
§ 4677. Operating expenses
§ 4677. Operating expenses No amount may be paid out of the General Fund or from any account therein, which account the Bank may establish therein for the purpose of payment of its operating expenses, for operating expenses of the Bank in any year in excess of the amount provided for the operating expenses of […]
§ 4678. Special accounts
§ 4678. Special accounts The Bank may establish in the General Fund accounts, subaccounts or special accounts that in its opinion are necessary, desirable, or convenient for its purposes. (Added 1969, No. 216 (Adj. Sess.), § 3, eff. March 27, 1970.)