Page:United States Statutes at Large Volume 114 Part 4.djvu/745

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PUBLIC LAW 106-553—APPENDIX A 114 STAT. 2762A-45 "(i)(l) The Council may delegate to the District of Columbia Tobacco Settlement Financing Corporation (hereafter in this subsection referred to as the "Corporation") established pursuant to the Tobacco Settlement Financing Act of 2000 the authority of the Council under subsection (a) to issue revenue bonds, notes, and other obligations which are used to borrow money to finance or assist in the financing or refinancing of capital projects and other undertakings of the District of Columbia and which are pay- able solely from and secured by payments under the Master Tobacco Settlement Agreement. The Corporation may exercise authority delegated to it by the Council as described in the first sentence of this paragraph (whether such delegation is made before or after the date of the enactment of this subsection) only in accordance with this subsection and the provisions of the Tobacco Settlement Financing Act of 2000. "(2) Revenue bonds, notes, and other obligations issued by the Corporation under a delegation of authority described in paragraph (1) shall be issued by resolution of the Corporation, and any such resolution shall not be considered to be an act of the Council. "(3) The fourth sentence of section 446 shall not apply to— "(A) any amount (including the amount of any accrued interest or premium) obligated or expended from the proceeds of the sale of any revenue bond, note, or other obligation issued pursuant to this subsection; "(B) any amount obligated or expended for the payment of the principal of, interest on, or any premium for any revenue bond, note, or other obligation issued pursuant to this subsection; "(C) any amount obligated or expended to secure any revenue bond, note, or other obligation issued pursuant to this subsection; or "(D) any amount obligated or expended for repair, maintenance, and capital improvements to facilities financed pursuant to this subsection. "(4) In this subsection, the term 'Master Tobacco Settlement Agreement' means the settlement agreement (and related documents), as may be amended from time to time, entered into on November 23, 1998, by the District of Columbia and leading United States tobacco product manufacturers.". (2) CONFORMING AME;isrDMENT. — The fourth sentence of section 446 of such Act (sec. 47-304, D.C. Code) is amended by striking "and (h)(3)" and inserting "(h)(3), and (i)(3)". (b) WAIVER OF CONGRESSIONAL REVIEW PERIOD FOR TOBACCO SETTLEMENT FINANCING ACT. — Notwithstanding section 602(c)(1) of the District of Columbia Home Rule Act (sec. l -233(c)(l), D.C. Code), the Tobacco Settlement Financing Act of 2000 (title XXXVII of D.C. Act 13-375, as amended by section 8(e) of D.C. Act 13- 387) shall take effect on the date of the enactment of such Act or the date of the enactment of this Act, whichever is later. SEC. 161. Section 603(e) of the Student Loan Marketing Association Reorganization Act of 1996 (Public Law 104-208; 110 Stat. 3009-293), as amended by section 153 of the District of Columbia Appropriations Act, 2000, is amended— (1) by amending the second sentence of paragraph (2)(B) to read as follows: "Of such amounts and proceeds, $5,000,000 shall be set aside for a credit enhancement fund for public