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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 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.
There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA 2020 Streetlights Construction Fund” for the purpose of receiving and expending the new money proceeds from the MICLA 2020 Streetlights Financing and which new money shall be used solely to finance the costs of the acquisition and installation of approximately 2,500 streetlights with light-emitting diode (LED) and/or high voltage conversion and other related improvements (Project). No money shall be released from the MICLA 2020 Streetlights Construction Fund except to pay for costs of the Project and as provided in the tax certificate for the MICLA 2020 Streetlights Financing (Tax Certificate). All earnings on amounts held in the MICLA 2020 Streetlights Construction Fund shall be retained in the MICLA 2020 Streetlights Construction Fund to be used for the purposes permitted by the MICLA 2020 Streetlights Financing transaction and the Tax Certificate. Any money remaining in the MICLA 2020 Streetlights Construction Fund after completion of the Project shall be dealt with in accordance with the Tax Certificate.
SECTION HISTORY
Added by Ord. No. 186,796, Eff. 10-19-20.
There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2021-C (Capital Equipment and Real Property) Accounting Fund” (Series 2021-C Accounting Fund), for the purpose of recording accounting transactions related to the Municipal Improvement Corporation of Los Angeles Lease Revenue Bonds, Series 2021-C (Capital Equipment and Real Property) (Bonds), which Bonds are to be used to retire certain maturities of commercial paper notes issued by the Municipal Improvement Corporation of Los Angeles. The proceeds of such commercial paper notes were used to finance and/or refinance the acquisition of certain items of equipment of the City and the acquisition and improvement of certain real property of the City. The City Controller shall administer the Series 2021- C Accounting Fund. Monies in the Series 2021-C Accounting Fund, if any, shall not revert to the Reserve Fund at the close of each fiscal year.
SECTION HISTORY
Added by Ord. No. 187,244, Eff. 11-4-21.
There is created in the Treasury of the City of Los Angeles (City) a special fund, named the “MICLA Lease Revenue Bonds, Series 2023-A (Capital Equipment and Real Property) Accounting Fund” (Series 2023-A Accounting Fund), for the purpose of recording accounting transactions related to the Municipal Improvement Corporation of Los Angeles Lease Revenue Bonds, Series 2023-A (Capital Equipment and Real Property) (Bonds), which Bonds are to be used to retire certain maturities of commercial paper notes issued by the Municipal Improvement Corporation of Los Angeles. The proceeds of such commercial paper notes were used to finance and/or refinance the acquisition of certain items of equipment of the City and the acquisition and improvement of certain real property of the City. The City Controller shall administer the Series 2023-A Accounting Fund. Monies in the Series 2023-A Accounting Fund, if any, shall not be subject to reversion to the Reserve Fund of the City.
SECTION HISTORY
Added by Ord. No. 188,012, Eff. 10-20-23.
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