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.