This is a Prior instruments and Obligations form, in addition to being made subject to all conveyances, reservations, and exceptions or other instruments of record, this assignment is made and assignee accepts this assignment subject to all terms, provisions, covenants, conditions, obligations, and agreements, including but not limited to the plugging responsibility for any well, surface restoration, or preferential purchase rights, contained in any contracts existing as of the effective date of this assignment and affecting the assigned property, whether or not recorded.
The District of Columbia Prior instruments and Obligations refer to the various types of financial instruments and obligations that were issued by the government of the District of Columbia (DC) in the past. These instruments and obligations serve as a means for the District to raise funds and manage its financial affairs. One type of prior instrument used by the District of Columbia is general obligation bonds. These bonds are backed by the full faith and credit of the District and are issued to fund various capital projects and infrastructure improvements. General obligation bonds typically have a fixed interest rate and are repaid over a specific period of time. Another type of prior instrument utilized by the District is revenue bonds. Revenue bonds are issued to fund specific projects or facilities that generate revenue, such as toll roads, parking garages, or public utilities. The repayment of revenue bonds is dependent on the revenue generated by the funded project or facility. The District of Columbia also issues short-term obligations known as tax anticipation notes (Tans). Tans are used to meet short-term cash flow needs, typically during periods when tax revenues are not yet available. These notes are repaid using the tax revenues collected by the District. Additionally, the District may issue lease-purchase agreements, which are contracts that allow the government to finance the acquisition of assets or equipment through a series of lease payments. These agreements provide the District with the flexibility to acquire necessary assets while spreading out the costs over time. Overall, the District of Columbia Prior instruments and Obligations encompass a range of financial tools used by the DC government to manage its fiscal affairs. These instruments include general obligation bonds, revenue bonds, tax anticipation notes, and lease-purchase agreements. Each type of instrument serves a specific purpose and plays a role in supporting the District's financial stability and development.
