Bond authorization.

(a) The Mayor is authorized to assist in financing, refinancing, and reimbursing costs of the development of eligible projects by:

(1) Approving the issuance, sale, and delivery of one or more series of revenue bonds in multiple separate series in an aggregate principal amount not to exceed $850,000,000; and

(2) The making of various loans, pursuant to the Home Rule Act, provided that each such contemplated project shall have been submitted for Council review and approval in accordance with § 47-340.03 , and shall not have been the subject of a Council resolution of disapproval.

(b) The Mayor is authorized to make loans to various applicants for the purpose of financing, refinancing, or reimbursing the costs of development of eligible projects, pay issuance costs with respect to the bonds, and establish any fund with respect to the various series of bonds as required by the financing documents.