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There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2019-A (Capital Equipment) Accounting Fund” (Series 2019-A Accounting Fund) for the purpose of recording accounting transactions for the funds received from, and to be only used to retire certain maturities of commercial paper notes issued by MICLA, the proceeds of which were used to finance and refinance the acquisition of certain items of equipment of the City. The City Controller shall administer the Series 2019-A Accounting Fund. All earnings of the Series 2019-A Accounting Fund shall be retained in the Series 2019-A Accounting Fund to be used for the purposes permitted by the MICLA Lease Revenue Bonds, Series 2019-A (Capital Equipment) and Lease Revenue Refunding Bonds, Series 2019-B (Real Property) transaction, and the monies in the Series 2019-A Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.
SECTION HISTORY
Added by Ord. No. 186,101, Eff. 5-14-19.
There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Refunding Bonds, Series 2019-B (Real Property) Accounting Fund” (Series 2019-B Accounting Fund) for the purpose of recording accounting transactions for the funds received from, and to be only used to retire certain maturities of commercial paper notes issued by MICLA and to refund certain lease revenue bonds issued by MICLA, the proceeds of which were used to finance and refinance the acquisition and improvement of certain real property of the City. The City Controller shall administer the Series 2019-B Accounting Fund. All earnings of the Series 2019-B Accounting Fund shall be retained in the Series 2019-B Accounting Fund to be used for the purposes permitted by the MICLA Lease Revenue Bonds, Series 2019-A (Capital Equipment) and Lease Revenue Refunding Bonds, Series 2019-B (Real Property) transaction, and the monies in the Series 2019-B Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.
SECTION HISTORY
Added by Ord. No. 186,101, Eff. 5-14-19.
There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2020-A (Capital Equipment) Accounting Fund” (Series 2020-A Accounting Fund) for the purpose of recording accounting transactions for the MICLA Lease Revenue Bonds, Series 2020-A (Capital Equipment) transaction, which Bonds are to be used to retire certain maturities of commercial paper notes issued by MICLA to finance and refinance the acquisition of certain items of equipment of the City. The City Controller shall administer the Series 2020-A Accounting Fund. Any monies in the Series 2020-A Accounting Fund, if any, shall not revert to the Reserve Fund at the close of each fiscal year.
SECTION HISTORY
Added by Ord. No. 186,694, Eff. 8-8-20.
There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA 2019 Street Lighting Financing Construction Fund” for the purpose of receiving and expending the new money received from the MICLA 2019 Street Lighting Financing and which new money shall be used solely for the acquisition and installation of certain streetlights with light-emitting diode and/or high voltage conversion and related improvements. Money in the MICLA 2019 Street Lighting Financing Construction Fund shall be used only to finance costs associated with the acquisition and installation of the streetlights and related improvements, and no money shall be released from the MICLA 2019 Street Lighting Financing Construction Fund except in accordance with the tax certificate for the MICLA 2019 Street Lighting Financing. All earnings by the MICLA 2019 Street Lighting Financing Construction Fund shall be retained by the MICLA 2019 Street Lighting Financing Construction Fund to be used for the purposes permitted by the MICLA 2019 Street Lighting Financing transaction and the related tax certificate.
SECTION HISTORY
Added by Ord. No. 186,275, Eff. 8-29-19.
There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2020-B (Real Property) Accounting Fund” (Series 2020-B Accounting Fund) for the purpose of recording accounting transactions for the MICLA Lease Revenue Bonds, Series 2020-B (Real Property), which Bonds are to be used to retire certain maturities of commercial paper notes issued by MICLA to finance and refinance the acquisition and improvement of certain real property of the City. The City Controller shall administer the Series 2020-B Accounting Fund. Any monies in the Series 2020-B Accounting Fund, if any, shall not revert to the Reserve Fund at the close of each fiscal year.
SECTION HISTORY
Added by Ord. No. 186,694, Eff. 8-8-20.
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