Any borrowing by the Authority that is intended to survive beyond the next date for renewal of the District (“Long-Term Debt”) is subject to the following conditions. The aggregate amount of Long-Term Debt outstanding at any one time may not exceed $2,000,000. No Financing Plan may be submitted and no Long-Term Debt may be approved if the current and projected payments for the sum of (i) debt service on the Long-Term Debt and (ii) any other debt having a maturity in excess of 1 year, in any year exceed 10% of the revenues of the Authority. No Long-Term Debt may be issued by the Authority until after a Financing Plan has been presented for review and approval by the Board, the Department of Finance of the City, and the Board of Estimates of the City. Each Financing Plan shall provide information on:the use of the proceeds of the Long-Term Debt; the anticipated term of the obligations; the annual maximum debt service anticipated for the Long-Term Debt; and the means by which the Long-Term Debt will be retired if a terminating event described in § 1-20 occurs. In addition, the Plan shall consider the operation and maintenance costs of any improvements funded with the Long-Term Debt and the means by which those expenses will be paid. Before submitting a Financing Plan for approval under subsection (c) above, the Authority shall, after notice to all taxpayers in the District, hold a public hearing at which the Plan is presented. No Long-Term Debt may be issued and sold to the general public or to other than institutional investors, lending institutions, and other sophisticated purchasers of debt obligations. Capital projects for which both City funds and Long-Term Debt proceeds are to be used must be approved in accordance with applicable requirements, including, but not limited to, approval in the Capital Budget and the Ordinance of Estimates. Ord. 96-093