Sec. 5.115.8.1. Community Facilities District No. 4 (Playa Vista

(a) There is hereby created in the Treasury of the City of Los Angeles a special fund, named the “Pershing Square Special Tax Fund” (the “Special Tax Fund”), for the purposes of receiving all proceeds of the special tax (other than amounts representing penalties assessed with respect to delinquent and overdue special tax assessments) levied on all non-exempt real property within Community Facilities District No. 1 (Pershing Square) (the “District”). The Special Tax Fund shall be administered by the City Administrative Officer. The City Administrative Officer shall disburse funds on deposit in the Special Tax Fund in accordance with that certain Trust Agreement, dated as of April 1, 1992, by and between The City of Los Angeles (the “City”) and Bank of America National Trust and Savings Association, as Trustee (the “Trust Agreement”) and that certain Special Tax Agreement, dated as of April 1, 1992, by and between the City and the District (the “Special Tax Agreement”). Investment earnings received with respect to money on deposit in the Special Tax Fund shall be disbursed in accordance with the Special Tax Agreement.

(b) Pursuant to Charter Section 344 money in the Special Tax Fund shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 167,687, Eff. 4-30-92.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00; Subsec. (a), Ord. No. 180,209, Eff. 11-8-08.

Sec. 5.115.8.1. Community Facilities District No. 4 (Playa Vista - Phase 1) Special Tax Collection Fund.

There is hereby created in the Treasury of the City of Los Angeles a special fund, named the Community Facilities District No. 4 (Playa Vista - Phase 1) Special Tax Collection Fund (Special Tax Collection Fund), for the purposes of receiving proceeds of the special tax (Special Tax) levied on non-exempt real property in Community Facilities District No. 4 (Playa Vista - Phase 1) (District) and proceeds from enforcement and collection activities and foreclosures related to the Special Tax, and from which money shall be disbursed in accordance with (a) initially, the Fiscal Agent Agreement, relating to the District, by and among the City, the District and the Fiscal Agent, as it may be amended by Supplemental Fiscal Agent Agreements from time to time, (b) and/or, upon the issuance of bonds secured by the Special Tax, with the Indenture, relating to the District, by and among the City, the District and the Trustee, as it may be amended by Supplemental Indentures from time to time, and (c) the Tax and Non-Arbitrage Certificates executed by the City and the District, as may be required for each financing involving the Special Tax. The Special Tax Collection Fund shall be administered by the City Administrative Officer. Earnings received with respect to money on deposit in the Special Tax Collection Fund shall remain in the Special Tax Collection Fund and shall be disbursed in accordance with the applicable Fiscal Agent Agreement, Indenture, and Tax and Non-Arbitrage Certificate, as they may be amended and supplemented. Pursuant to Charter Section 344 , money in the Special Tax Collection Fund shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 170,576, Eff. 8-3-95.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00; Ord. No. 174,987, Eff. 12-30-02.

Sec. 5.115.8.2. Community Facilities District No. 3 (Cascades Business Park and Golf Course) Special Tax Fund.

There is hereby created in the Treasury of the City of Los Angeles a special fund, named the “Community Facilities District No. 3 (Cascades Business Park and Golf Course) Special Tax Fund” (the “Special Tax Fund”), for the purposes of receiving proceeds of the special tax (the “Special Tax”) levied on non-exempt real property in Community Facilities District No. 3 (Cascades Business Park and Golf Course) (the “District”) and proceeds from enforcement and collection activities and foreclosures related to the Special Tax, and from which money shall be disbursed in accordance with an Indenture relating to the bonds to be issued for the District to be executed, by the City and trustee, as it may be amended pursuant to its terms. The Special Tax Fund shall be administered by the Director of the Office of Administrative and Research Services. Earnings received with respect to money on deposit in the Special Tax Fund shall be disbursed in accordance with the Indenture. Pursuant to Charter Section 344 , money in the Special Tax Fund shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 171,486, Eff. 2-27-97.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Sec. 5.115.8.3. Community Facilities District No. 8 (Legends at Cascades) Special Tax Fund.

There is hereby established in the Treasury of the City of Los Angeles a special fund, named the “Community Facilities District No. 8 (Legends at Cascades) Special Tax Fund” (Special Tax Fund), for the purposes of receiving proceeds of the special tax (Special Tax) levied on non-exempt real property in Community Facilities District No. 8 (Legends at Cascades) (District) and proceeds from enforcement and collection activities and foreclosures related to the Special Tax, and from which money shall be disbursed only to pay or provide for the payment of the facilities authorized to be financed by the District, as provided in the Ordinance of Formation therefor, adopted on November 8, 2007 (Ordinance of Formation), and the incidental expenses related thereto, including the costs associated with the creation of the District, issuance of bonds, determination of the amount of taxes, collection of taxes, payment of taxes, or costs otherwise incurred in order to carry out the authorized purposes of the District, as provided in the Ordinance of Formation. The Special Tax Fund shall be administered by the City Administrative Officer. Earnings received on money in the Special Tax Fund shall be retained in the Special Tax Fund to be used only for the purposes of the Special Tax Fund. Pursuant to Charter Section 344, money in the Special Tax Fund shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 180,746, Eff. 7-28-09.

Sec. 5.115.8.4. Community Facilities District No. 11 (Ponte Vista) Special Tax Fund.

(a) There is hereby established in the Treasury of the City of Los Angeles (City) a special fund named the “Community Facilities District No. 11 (Ponte Vista) Special Tax Fund” (Tax Fund). The purpose of the Tax Fund is to receive proceeds from the special taxes levied on taxable property in the City of Los Angeles Community Facilities District No. 11 (Ponte Vista) (District) and the proceeds from any enforcement, collection activities and foreclosures related to the special tax and other deposits, from which the monies collected shall be disbursed in accordance with the terms of an Indenture, relating to bonded indebtedness to be issued for the District, to be executed by the District and the trustee, as amended from time to time, to carry out the authorized purposes of the District, as provided in the ordinance entitled “An Ordinance of Formation of City of Los Angeles Community Facilities District No. 11 (Ponte Vista), Authorizing the Levy of a Special Tax Within the Community Facilities District, and Establishing an Appropriations Limit for the Community Facilities District,” adopted December 1, 2020. Any earnings received on money in the Tax Fund shall be used and disbursed in accordance with the terms of the Indenture.

(b) The Tax Fund shall be administered by the City Administrative Officer.

(c) Pursuant to City Charter Section 344, monies in the Tax Fund shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 187,222, Eff. 10-13-21.

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