There is created in the Treasury of the City of Los Angeles a special fund, named the "MICLA Taxable Lease Revenue Refunding Bonds, Series 2015-A (Los Angeles Convention Center) Accounting Fund" (MICLA Series 2015-A Accounting Fund), for the purpose of recording accounting transactions for the MICLA Taxable Lease Revenue Refunding Bonds, Series 2015-A (Los Angeles Convention Center) transaction. The City Controller shall administer the MICLA Series 2015-A Accounting Fund. All earnings of the MICLA Series 2015-A Accounting Fund shall be retained in the MICLA Series 2015-A Accounting Fund to be used for the purposes permitted by the MICLA Taxable Lease Revenue Refunding Bonds, Series 2015-A (Los Angeles Convention Center) transaction, and the monies in the MICLA Series 2015-A Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.
SECTION HISTORY
Added by Ord. No. 183,922, Eff. 12-4-15; re-adopted by Ord. No. 184,798, Eff. 4-16-17.