Loading...
(a) There is hereby created in the Treasury of the City of Los Angeles a special fund named “Judgment Obligation Bonds, Series 2009-A, Judgment Obligation Bonds Proceeds Fund” (Judgment Bonds Proceeds Fund) (designated as the Refunding Fund in the financing documents) for the purposes of receiving all proceeds from the sale of the City’s Judgment Obligation Bonds, Series 2009-A (Bonds) (other than accrued interest at the time of issuance, if any), to finance the payment of certain judgments related to civil rights violations against current and former City police officers in the cases of Harper v. City of Los Angeles, United States District Court (USDC) Case No. SACV 03-959; Liddy, Ortiz and Buchanan v. City of Los Angeles, USDC Case Nos. CV05-5697/CV05-5699; Buchanan v. City of Los Angeles, USDC Case No. CV06-4479; Liddy v. City of Los Angeles, USDC Case No. CV06-4479 (formerly Los Angeles Superior Court (LASC) Case No. BC383173); Ortiz v. City of Los Angeles, LASC Case No. B5106263; Liddy v. City of Los Angeles, LASC Case No. B5102454. The Judgment Bonds Proceeds Fund shall be administered by the City Attorney and the City Administrative Officer.
(b) There is hereby created in the Treasury of the City of Los Angeles a special fund named “Judgment Obligation Bonds, Series 2009-A, Debt Service Fund” (Debt Service Fund) for the purpose of payment of principal of, premium, if any, and interest on the Bonds. Accrued interest, if any, relating to the Bonds at the time of issuance shall be deposited in the Debt Service Fund. The Debt Service Fund shall retain all of its earnings until such time as they are expended for debt service. The Debt Service Fund shall be administered by the City Administrative Officer.
SECTION HISTORY
Added by Ord. No. 180,678, Eff. 6-11-09.
There is created in the Treasury of the City of Los Angeles a special fund, named the “Judgment Obligation Bonds Other Replacement Proceeds Fund” (Other Replacement Proceeds Fund), for the purpose of holding money that the City finds to be Other Replacement Proceeds as defined in Treasury Regulations Section 1.148-6(d)(3) resulting from any judgment obligation bonds issued by the City. The Other Replacement Proceeds Fund shall be administered by the City Administrative Officer. Money in the Other Replacement Proceeds Fund shall not be subject to reversion to the Reserve Fund of the City.
SECTION HISTORY
Added by Ord. No. 180,678, Eff. 6-11-09.
(a) There is hereby created within the Treasury of the City of Los Angeles a fund known as the Proposition A Local Transit Assistance (PALTA) Fund.
(b) All monies received by the City under the terms of the ordinance, and as such ordinance may be amended, adopted by the Los Angeles County Transportation Commission establishing a retail transaction and use tax in the County for public transit purposes and which ordinance was enacted by the passage of Proposition A at the State 1980 General Election, shall be deposited in the PALTA Fund.
(c) The Treasurer shall deposit in the PALTA Fund any interest earned from the deposit or investment of monies received pursuant to Subsection (b) above.
(d) No other monies, except as hereinabove provided, shall be deposited in the PALTA Fund.
(e) No expenditure shall be made from the PALTA Fund except for public transit purposes, in accordance with State law and any ordinance, rule, regulation, guideline or other directive adopted by the Los Angeles County Transportation Commission. Expenditures from the PALTA Fund may be made as provided in the budget or as authorized by transfers of funds approved by the Council and the Mayor in the manner provided in Charter Section 342.
SECTION HISTORY
Added by Ord. No. 156,945, Eff. 8-22-82.
Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.
(a) There is hereby created within the Treasury of the City of Los Angeles a Trust Fund known as the “Senior Transportation, 12th District Trust Fund.”
(b) All interest or other earnings from moneys received into said Fund shall be credited thereto and shall be devoted to the purposes set forth herein.
(c) The Fund shall be administered by the City Clerk subject to the direction of the Council member representing Council District No. 12 and shall be used exclusively for the development of projects and programs for the transportation of senior citizens residing within Council District No. 12.
SECTION HISTORY
Added by Ord. No. 159,090, Eff. 7-27-84.
Loading...