1981 Financial Condition and Bond Authorization Act: Hearings and Markups Before the Subcommittee on Fiscal Affairs and Health and the Committee on the District of Columbia, House of Representatives, Ninety-seventh Congress, First Session, on District of Columbia Current and Projected Financial Condition and H.R. 1807 ... April 7, 30, May 20, and July 14, 1981 |
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accounting accumulated deficit additional agencies amount Anne Arundel County Arlington County audit balanced budget BARRY bill BLILEY Board bond issue bond market bondholders bonds authorized borrowing capital Chairman CHANGE Charles County City Council city's committee CONGRESS THE LIBRARY congressional cost counsel COUNTY TAXES DELLUMS Department DIKEMAN District of Columbia District revenues dollars in thousands downtown employees expenditure Fairfax Fairfax City Fairfax County FAUNTROY Federal Government Federal payment fiscal year 1981 fund future gentleman going Home Rule Act impact income increase issuance issuers legislation LIBRARY OF CONGRESS long-term Loudoun County Mayor MCKINNEY ment Metro million municipal obligation bonds Office overspending PARRIS percent pledge Prince George's County Prince William County problem projected property tax proposed question reduction revenue source REVISED CEILING revised obligation ceiling sell spending statement subcommittee TAXES ON VALUES testimony Thank tion Total Treasury Virginia Washington
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Page 194 - B generally lack characteristics of the desirable investment. Assurance of interest and principal payments or of maintenance of other terms of the contract over any long period of time may be small. Caa Bonds which are rated Caa are of poor standing. Such issues may be in default or there may be present elements of danger with respect to principal or interest. Ca Bonds which are rated Ca represent obligations which are speculative in a high degree. Such issues are often in default or have other marked...
Page 194 - C are the lowest rated class of bonds, and issues so rated can be regarded as having extremely poor prospects of ever attaining any real investment standing. Con.(— ) Bonds for which the security depends upon the completion of some act or the fulfillment of some condition are rated conditionally. These are bonds secured by (a) earnings of projects under construction, (b) earnings of projects unseasoned in operation experience, (c) rentals which begin when facilities are completed, or (d) payments...
Page 194 - Bonds which are rated B generally lack characteristics of the desirable investment. Assurance of interest and principal payments or of maintenance of other terms of the contract over any long period of time may be small. Caa Bonds which are rated Caa are of poor standing. Such issues may be in default or there may be present elements of danger with respect to principal or interest.
Page 306 - The ayes have it, and the amendment is agreed to. Are there any amendments to section 333?
Page 305 - ... borrowed shall not exceed the sum of $10,000,000; that the bonds or other securities so pledged as security for such loans to the commission shall be the sole security for the payment of the principal and interest of any such loan or loans; and that the members of the commission shall not be personally liable for the payment of the principal or the interest of any such loans. No such loans shall be made for a longer period of time than one year. Such loans may be renewed from time to time but...
Page 114 - At this time I would like to yield to my distinguished colleague and author of the legislation, Representative Dymally.
Page 303 - Thank you, Mr. Chairman. I would just like to associate myself with the remarks of our able chairman.
Page 112 - ... shall be payable in annual installments beginning not more than three years after the date of the bonds and ending not more than thirty years from such date.
Page 299 - All in favor of the motion signify by saying " aye " ; all opposed,
Page 265 - County. 7.00 . - . 25.0 (d) Personal Property Tax on Equipment The personal property taxes on equipmnt are as listed below. The tax dollars resulting from the rates as listed for purposes of the comparison are based upon the assumption that the equipment purchased during the year is one year old and all other equipment is two years old and that all equipment has a ten-year life. Tax rate per $100 (excluding town rates) Manufacturing Nonmanufactur- Assessment equipment ing equipment ratio (percent)...