WASHINGTON - The District of Columbia is one step closer to having the authority to issue income tax bonds after the District Council yesterday gave preliminary approval through a first reading of a bill that would grant that authority. The council is expected to give final approval of the bill on July 15, just before the legislative body's three-month summer hiatus, sources said.

The bill was introduced last month by councilman Jack Evans at chief financial officer Natwar Gandhi's request.

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