Borrowing of funds for capital projects.

The Mayor shall not borrow any funds for capital projects unless the Mayor has obtained prior approval from the Council, by resolution, identifying the projects and amounts to be financed with such borrowings. In determining the amounts to be financed, the Mayor shall consult with the Chief Financial Officer to determine if any funds appropriated for Debt Service, as defined in § 47-334(1) , in excess of Debt Service requirements are available to reduce the amount of borrowing for the next bond issuance.