Section 9-1002. BOND TO SECURE DEFERRED PAYMENT FOR STAMPS  


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    1002.1The Deputy Chief Financial Officer may require the filing of a bond to secure the payment of any amount or amounts due the District from the purchaser in the event of failure by the purchaser to pay the amounts due within the time prescribed in § 1001.

     

    1002.2The bond shall be in a form and with conditions satisfactory to the Deputy Chief Financial Officer, and with a surety or sureties acceptable to the Deputy Chief Financial Officer.

     

    1002.3The security provided in the bond shall be in an amount equal to one and one-half (11/2) times the average monthly purchases of stamps or metered impressions made by the purchaser during the year prior to the year in which the bond is obtained.

     

    1002.4If the purchaser has no history of prior purchases, the bond shall be in an amount not less than one thousand dollars ($1,000), to be determined in the sole discretion of the Deputy Chief Financial Officer.

     

    1002.5Deferred payment purchases shall not exceed the amount of the bond.

     

source

Final Rulemaking published at 29 DCR 2804, 2805 (July 2, 1982).