b. In anticipation of the collection or receipt of revenues for a fiscal year, the Legislative Assembly may by Act authorize the issuance of revenue anticipation notes.
c. The total amount of any general obligation notes originally issued during a fiscal year shall not exceed 2 percent of the total appropriations for the State of Washington, D.C. for such fiscal year, and the total amount of all revenue anticipation notes outstanding at any time during a fiscal year shall not exceed 20 percent of the total anticipated revenue of the State of Washington, D.C. that the Governor estimates, and the Chief Financial Officer certifies, will be credited to the State of Washington, D.C. during the fiscal year in which the bonds will be issued.
d. Any general obligation note issued under subsection (a) of this section, or any revenue anticipation note issued under subsection (b) of this section, as authorized by an Act of the Legislative Assembly, may be renewed. Any such note, including any renewal of such note, shall be due and payable not later than the last day of the fiscal year occurring immediately after the fiscal year during which the Act authorizing the original issuance of such note takes effect.
