district’s authority to issue and redeem general obligation bonds for capital projects

district’s authority to issue and redeem general obligation bonds for capital projects Sec. 461. (a) Subject to the limitations in section 603(b), the District may incur indebtedness by issuing general Obligation bonds to refund indebtedness of the District at any time outstanding and to provide for the payment of the cost of acquiring or undertaking its various capital projects. Such bonds shall bear interest, payable annually or semi-annually, at such rate and at such maturities as the Mayor, subject to the provisions of section 462 of this Act, may from time to time determine to be necessary to make such bonds marketable. (b) The District may reserve the right to redeem any or all of its obligations before maturity in such manner and at such price as may be fixed by the Mayor prior to the issuance of such obligations.