(<?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /?>Washington, DC) The District of Columbia successfully marketed and sold today $34.1 million of deed tax revenue bonds. The tax-exempt, fixed-rate bonds have a final maturity of 2037 and sold at a weighted average interest rate of 4.64 percent.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>

The bonds are secured by a portion of the deed recordation and real property transfer taxes collected annually by the District. Bond proceeds, together with additional funds, will be used to acquire property to develop approximately 1,700 housing units in a mixed-income, mixed-use development within the Northwest One community, which is part of the District’s “New Communities” initiative.

This is the District’s first issuance of bonds secured specifically by deed taxes, an innovative financing structure used to leverage a portion of the resources in the District’s Housing Production Trust Fund.

“We are very pleased that these bonds were well received in the financial marketplace,” said Treasurer Lasana K. Mack.