The Treasurer of the City of Los Angeles is hereby authorized and directed to pay in accordance with the terms of any general obligation bond, or coupon from the bond, or improvement district bond, including coupons from the bond, of the City of Los Angeles from the fund established for that purpose if there are moneys in the fund established for the payment of the bonds or coupons to make the payment and no duplicate bond or coupon has been previously issued for the bond or coupon presented for payment. The Treasurer is further authorized and directed to pay any general obligation bonds or coupons if the moneys in the Fund have been transferred to the Bond Indemnification Fund and those monies have not been transferred to the General Fund pursuant to Government Code Section 50050, et al., or its successor.
SECTION HISTORY
Based on Ord. No. 132,344.
Amended by: In Entirety, Ord. No. 175,132, Eff. 5-4-03, Oper. 1-1-02.