WASHINGTON — The District of Columbia’s chief financial officer is warning the mayor and District Council members against additional borrowing that would breach the 12% debt-to-expenditures cap.

The CFO, Natwar M. Gandhi, issued the warning in a five-page letter to officials as the city prepares to issue $126.8 million of refunding bonds, which will give it some breathing room under the cap, and $29 million of new-money notes.

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