Security for advances.

(a) In general. — The Secretary shall require the District government to provide such security for any advance made under §§ 47-3401 through 47-3401.04 , as the Secretary determines to be appropriate.

(b) Authority to require specific security. — As security for any advance made under §§ 47-3401 through 47-3401.04 , the Secretary may require the District government to:

(1) Pledge to the Secretary specific taxes and revenue of the District government, if such pledging does not cause the District government to violate existing laws or contracts; and

(2) Establish a debt service reserve fund pledged to the Secretary.