Los Angeles Municipal Code Art. 3.5 General Obligation Bond Funds

Section

• 5.82.3 General Obligation Bonds, Series 1992-A, Special Funds.

• 5.82.6 General Obligation Bonds, Refunding Series 1993-C, Special Funds.

• 5.82.13 General Obligation Bonds, Refunding Series 2000-B, Special Funds.

• 5.82.14 General Obligation Bonds, Series 2001-A, Special Funds.

5.82.15 General Obligation Bonds, Series 2002-A, and Refunding Series 2002-B Special Funds.

5.82.16 General Obligation Bonds, Series 2003-A, and Refunding Series 2003-B Special Funds.

5.82.17 General Obligation Bonds, Series 2004-A, Special Funds.

5.82.18 General Obligation Bonds, Series 2005-A and Refunding Series 2005-B Special Funds.

• 5.82.19 General Obligation Bonds, Series 2006-A Special Funds.

• 5.82.20 General Obligation Bonds, Series 2008-A Special Funds.

• 5.82.21 General Obligation Bonds, Series 2009 - Special Funds.

5.82.22 General Obligation Bonds, Refunding Series 2011-A and Refunding Series 2011-B Special Funds.

• 5.82.23 General Obligation Bonds, Refunding Series 2011-C Special Funds.

• 5.82.24 General Obligation Refunding Bonds, Series 2016-A (Taxable) Special Fund.

• 5.82.25 General Obligation Bonds, Series 2017-A (Taxable) Special Funds.

• 5.82.26 General Obligation Refunding Bonds, Series 2017-B (Tax-Exempt) Special Fund.

• 5.82.27 General Obligation Bonds, Series 2018-A (Taxable) Special Funds.

• 5.82.28 General Obligation Refunding Bonds, Series 2018-B (Tax-Exempt) Special Fund.

• 5.82.29 General Obligation Refunding Bonds, Series 2018-C (Taxable) Special Fund.

• 5.82.30 General Obligation Bonds, Series 2021-A (Taxable) Special Funds.

• 5.82.31 General Obligation Refunding Bonds, Series 2021-B (Tax-Exempt) Special Funds.

• 5.82.32 General Obligation Bonds, Series 2022-A (Taxable) Special Funds.

• 5.82.33 General Obligation Bonds, Series 2024-A (Taxable) Special Funds.

• 5.82.34 General Obligation Bonds, Series 2026-A (Taxable) Special Funds.

SECTION HISTORY

Added by Ord. No. 165,842, Eff. 5-28-90.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

SECTION HISTORY

Added by Ord. No. 166,105, Eff. 8-9-90.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

SECTION HISTORY

Added by Ord. No. 167,101, Eff. 7-18-91.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

(A) There are hereby created within the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the General Obligation Bonds, Series 1992-A (the “Bonds”) the following special funds:

(1) the General Obligation Bonds, Series 1992-A, Branch Library Facilities Construction Fund (the “Branch Library Facilities Construction Fund”),

(2) the General Obligation Bonds, Series 1992-A, Police Facilities Construction Fund (the “Police Facilities Construction Fund”), and

(3) the General Obligation Bonds, Series 1992-A, Seismic Improvement Projects - Recreation and Parks Construction Fund (the “Seismic Construction Fund”).

No expenditures may be made from the Construction Funds except for the purposes of the Branch Library Facilities, Police Facilities, and Seismic Improvement Projects, approved by the voters on April 11, 1989 and June 5, 1990, including costs of issuance of the Bonds. When all facilities or projects in a Construction Fund are completed, any money remaining in that Construction Fund shall be deposited into the Debt Service Fund, subject to any conditions in the City’s Nonarbitrage Certificate for the Bonds. All earnings by the Construction Funds shall be retained in the respective Fund until such time as expended for the purposes of the Construction Funds or the Treasurer directs that some or all of the earnings be deposited into the Excess Earnings Fund, in accordance with the City’s Nonarbitrage Certificate for the Bonds.

(B) There is hereby created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 1992-A, Debt Service Fund (the “Debt Service Fund”) for the purposes of payment of principal of, premium, if any, and interest on the Bonds and for repayment of any temporary transfers from the City Reserve Fund. The premium and accrued interest, if any, received by the City from the sale of the Bonds and all money from the collection of property taxes for the Bonds shall be deposited into the Debt Service Fund. The Debt Service Fund shall retain all of its earnings until such time as they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Excess Earnings Fund in accordance with the City’s Nonarbitrage Certificate for the Bonds. When there are no longer any Bonds outstanding any money in the Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Nonarbitrage Certificate for the Bonds.

(C) There is hereby created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 1992-A, Excess Earnings Fund (the “Excess Earnings Fund”) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Bonds. The Treasurer shall deposit money from the Branch Library Facilities Construction Fund, Police Facilities Construction Fund, Seismic Construction Fund, and the Debt Service Fund into the Excess Earnings Fund in accordance with the City’s Nonarbitrage Certificate for the Bonds. Money in the Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Bonds in accordance with the City’s Nonarbitrage Certificate for the Bonds.

(D) Pursuant to Charter Section 344, money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 168,062, Eff. 7-13-92.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

SECTION HISTORY

Added by Ord. No. 168,982, Eff. 8-9-93.

Amended by: Subsecs. (A) and (C), Ord. No. 169,335, Eff. 3-4-94; Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

SECTION HISTORY

Added by Ord. No. 168,982, Eff. 8-9-93.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

(A) There is hereby created within the Treasury of the City of Los Angeles to receive money from the sale of the General Obligation Bonds, Refunding Series 1993-C (the “Series 1993-C Bonds”), a special fund named the General Obligation Bonds, Refunding Series 1993-C Funding Fund (the “Funding Fund”) for the purpose of refunding certain bonds from The City of Los Angeles General Obligation Bonds, Series 1989-A, Series 1990-B and Series 1991-A and for the costs of issuing the refunding bonds. The Controller and the Treasurer are authorized to deposit the money in the Funding Fund with the Paying Agent, as authorized in the Series 1993-C Bonds Resolution.

(B) There is hereby created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 1993-C, Debt Service Fund (the “Debt Service Fund”) for the purposes of payment of principal of, premium, if any, and interest on the Series 1993-C Bonds. All money from the collection of property taxes for the Series 1993-C Bonds shall be deposited into the Debt Service Fund. The Debt Service Fund shall retain all of its earnings until such time as they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Excess Earnings Fund in accordance with the City’s Nonarbitrage Certificate for the Series 1993-C Bonds. When there are no longer any Series 1993-C Bonds outstanding any money in the Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Nonarbitrage Certificate for the Series 1993-C Bonds.

(C) There is hereby created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 1993-C, Excess Earnings Fund (the “Excess Earnings Fund”) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 1993-C Bonds. Money in the Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 1993-C Bonds in accordance with the City’s Nonarbitrage Certificate for the Series 1993-C Bonds.

(D) Pursuant to Charter Section 344, money in the special fund shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 169,131, Eff 11-15-93.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

SECTION HISTORY

Added by Ord. No. 169,946, Eff 7-14-94.

Amended by: Ord. No. 169,993, Eff. 8-23-94; Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

SECTION HISTORY

Added by Ord. No. 170,661, Eff. 8-24-95.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

SECTION HISTORY

Added by Ord. No. 172,188, Eff. 9-2-98.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

SECTION HISTORY

Added by Ord. No. 172,541, Eff. 4-12-99.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

SECTION HISTORY

Added by Ord. No. 172,748, Eff. 8-13-99.

Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

SECTION HISTORY

Added by Ord. No. 173,593, Eff. 11-8-00.

Repealed by Ord. No. 187,475, Eff. 6-9-22.

(A) There is hereby created within the Treasury of the City of Los Angeles to receive money from the sale of the General Obligation Bonds, Refunding Series 2000-B (the “Series 2000-B Bonds”), a special fund named the General Obligation Bonds, Refunding Series 2000-B, Funding Fund (the “Funding Fund”) for the purpose of refunding certain bonds from the City of Los Angeles General Obligation Bonds, Series 1993-A, Series 1994-A and Series 1995-A and for the costs of issuing the refunding bonds. The Controller and the Treasurer are authorized to deposit the money in the Funding Fund with the Paying Agent, as authorized in the Series 2000-B Bond Resolution.

(B) There is hereby created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2000-B, Debt Service Fund (the “Debt Service Fund”) for the purposes of payment of principal of, premium, if any, and interest on the Series 2000-B Bonds. All money from the collection of property taxes for the Series 2000-B Bonds shall be deposited into the Debt Service Fund. The Debt Service Fund shall retain all of its earnings until such time as they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2000-B Bonds. When there are no longer any Series 2000-B Bonds outstanding, any money in the Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Series 2000-B Bonds.

(C) There is hereby created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2000-B, Excess Earnings Fund (the “Excess Earnings Fund”) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield of the Series 2000-B Bonds. Money in the Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2000-B Bonds in accordance with the City’s Tax Certificate for the Series 2000-B Bonds.

(D) Pursuant to Charter Section 344 , money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 173,594, Eff. 11-8-00.

(A) There is hereby created within the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the General Obligation Bonds, Series 2001-A (the “Bonds”), the following special funds:

(1) General Obligation Bonds, Series 2001-A, Branch Library Facilities Construction Fund,

(2) General Obligation Bonds, Series 2001-A, Zoo Improvement Projects Construction Fund,

(3) General Obligation Bonds, Series 2001-A, Animal Shelter Facilities Construction Fund and

(4) General Obligation Bonds, Series 2001-A, Fire/Paramedic, Emergency Helicopter Facilities Construction Fund

(collectively the “Construction Funds”).

No expenditures may be made from the Construction Funds except for the purposes of the branch libraries facilities, zoo improvement projects, animal shelter facilities and fire/paramedic, emergency helicopter facilities, as approved by the voters on November 3, 1998, for the libraries and zoo facilities and on November 7, 2000, for the animal shelters and fire/paramedic, emergency helicopter facilities, including costs of issuance of the Bonds. When all facilities and improvement projects in the Construction Funds are completed, any money remaining in the Construction Funds shall be deposited into the Debt Service Fund, subject to any conditions in the City’s Tax Certificate for the Bonds. All earnings by the Construction Funds shall be retained in the Construction Funds until such time as expended for the purposes of the Construction Funds or the Treasurer directs that some or all of the earnings be deposited into the Excess Earnings Fund, in accordance with the City’s Tax Certificate for the Bonds.

(B) There is hereby created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2001-A, Debt Service Fund (the “Debt Service Fund”) for the purposes of payment of principal of, premium, if any, and interest on the Bonds and for repayment of any temporary transfers from the City’s Reserve Fund. The premium and accrued interest, if any, received by the City from the sale of the Bonds and all money from the collection of property taxes for the Bonds shall be deposited into the Debt Service Fund. The Debt Service Fund shall retain all of its earnings until such time as they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Excess Earnings Fund in accordance with the City’s Tax Certificate for the Bonds. When there are no longer any Bonds outstanding, any money in the Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Bonds.

(C) There is hereby created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2001-A, Excess Earnings Fund (the “Excess Earnings Fund”) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Bonds. The Treasurer shall deposit money from the Construction Funds and the Debt Service Fund into the Excess Earnings Fund in accordance with the City’s Tax Certificate for the Bonds. Money in the Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Bonds in accordance with the City’s Tax Certificate for the Bonds.

(D) Pursuant to Charter Section 344 , money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 174,133, Eff. 8-2-01.

(A) There is created within the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the General Obligation Bonds, Series 2002-A (the “Series 2002-A Bonds”), the following special funds:

(1) General Obligation Bonds, Series 2002-A, Zoo Improvement Projects Construction Fund,

(2) General Obligation Bonds, Series 2002-A, Animal Shelter Facilities Construction Fund,

(3) General Obligation Bonds, Series 2002-A, Fire/Paramedic, Emergency Helicopter Facilities Construction Fund, and

(4) General Obligation Bonds, Series 2002-A, 911-Police-Fire-Paramedic Projects Construction Fund.

No expenditures may be made from the Construction Funds except for the purposes of the Zoo improvement projects, the Fire/Paramedic, Emergency Helicopter and Animal Shelter Facilities, and 911-Police-Fire-Paramedic Projects, as approved by the voters on November 3, 1998, November 7, 2000, and March 5, 2002, including costs of issuance of the Series 2002-A Bonds. When all facilities and improvement projects in a Construction Fund are completed, any money remaining in that Construction Fund shall be deposited into the Series 2002-A Debt Service Fund, subject to any conditions in the City’s Tax Certificate for the Series 2002-A Bonds. All earnings by each Construction Fund shall be retained in the respective Construction Fund until expended for the purposes of the Construction Fund or the Treasurer directs that some or all of the earnings be deposited into the Series 2002-A Excess Earnings Fund, in accordance with the City’s Tax Certificate for the Series 2002-A Bonds.

(B) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2002-A and Refunding Series 2002-B Cost of Issuance Fund (the “Cost of Issuance Fund”) for the purposes of paying all expenses incident to the sale and issuance of the Series 2002-A Bonds and the General Obligation Bonds, Refunding Series 2002-B (the “Series 2002-B Bonds”). After payment of all costs of issuance any money then remaining in the Cost of Issuance Fund, including any interest earnings, shall be transferred on a pro-rata basis to the respective Construction Funds.

(C) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2002-A Debt Service Fund (the “Series 2002-A Debt Service Fund”) for the purposes of payment of principal, premium, if any, and interest on the Series 2002-A Bonds and for repayment of any temporary transfers from the City’s Reserve Fund. The premium and accrued interest, if any, received by the City from the sale of the Series 2002-A Bonds and all money from the collection of property taxes for the Series 2002-A Bonds shall be deposited into the Series 2002-A Debt Service Fund. The Series 2002-A Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Series 2002-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2002-A Bonds. When there are no longer any Series 2002-A Bonds outstanding, any money in the Series 2002-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Series 2002-A Bonds.

(D) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2002-B Debt Service Fund (the “Series 2002-B Debt Service Fund”) for the purposes of payment of principal, premium, if any, and interest on the 2002-B Bonds and for repayment of any temporary transfers from the City’s Reserve Fund. The premium and accrued interest, if any, received by the City from the sale of the Series 2002-B Bonds and all money from the collection of property taxes for the Series 2002-B Bonds shall be deposited into the Series 2002-B Debt Service Fund. The Series 2002-B Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Series 2002-B Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2002-B Bonds. When there are no longer any Series 2002-B Bonds outstanding, any money in the Series 2002-B Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Series 2002-B Bonds.

(E) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2002-A, Excess Earnings Fund (the “Series 2002-A Excess Earnings Fund”) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 2002-A Bonds. The Treasurer shall deposit money from the Construction Funds and the Series 2002-A Debt Service Fund into the Series 2002-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2002-A Bonds. Money in the Series 2002-A Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2002-A Bonds in accordance with the City’s Tax Certificate for the Series 2002-A Bonds.

(F) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2002-B, Excess Earnings Fund (the “Series 2002-B Excess Earnings Fund”) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 2002-B Bonds. The Treasurer shall deposit money from the Series 2002-B Debt Service Fund into the Series 2002-B Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2002-B Bonds. Money in the Series 2002-B Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2002-B Bonds in accordance with the City’s Tax Certificate for the Series 2002-B Bonds.

(G) Pursuant to Charter Section 344 , money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 174,628, Eff. 6-12-02.

(A) There is created within the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the General Obligation Bonds, Series 2003-A (Series 2003-A Bonds), the following special funds: (1) General Obligation Bonds, Series 2003-A, Animal Shelter Facilities Construction Fund, (2) General Obligation Bonds, Series 2003-A, Fire/Paramedic, Emergency Helicopter Facilities Construction Fund, (3) General Obligation Bonds, Series 2003-A, 911-Police-Fire- Paramedic Projects Construction Fund. No expenditures may be made from the Construction Funds except for the purposes of the Fire/Paramedic, Emergency Helicopter and Animal Shelter Facilities Projects, and 911-Police-Fire-Paramedic Facilities Projects, as approved by the voters on November 7, 2000, and March 5, 2002, respectively, including costs of issuance of the Series 2003-A Bonds. When all facilities and improvement projects to be paid out of a Construction Fund are completed, any money remaining in that Construction Fund shall be deposited into the Series 2003-A Debt Service Fund, subject to any conditions in the City’s Tax Certificate for the Series 2003-A Bonds. All earnings by each Construction Fund shall be retained in the respective Construction Fund until expended for the purposes of the Construction Fund or the Treasurer directs that some or all of the earnings be deposited into the Series 2003-A Excess Earnings Fund, in accordance with the City’s Tax Certificate for the Series 2003-A Bonds.

(B) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2003-A Debt Service Fund (Series 2003-A Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the Series 2003-A Bonds, and repayment of any temporary transfers from the City’s Reserve Fund. The premium and accrued interest, if any, received by the City from the sale of the Series 2003-A Bonds and all money from the collection of property taxes for the Series 2003-A Bonds shall be deposited into the Series 2003-A Debt Service Fund. The Series 2003-A Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Series 2003-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2003-A Bonds. When there are no longer any Series 2003-A Bonds outstanding, any money in the Series 2003-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Series 2003-A Bonds.

(C) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2003-B (Series 2003-B Bonds) Debt Service Fund (Series 2003-B Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the Series 2003-B Bonds, and repayment of any temporary transfers from the City’s Reserve Fund. The premium and accrued interest, if any, received by the City from the sale of the Series 2003-B Bonds and all money from the collection of property taxes for the Series 2003-B Bonds shall be deposited into the Series 2003-B Debt Service Fund. The Series 2003-B Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Series 2003-B Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2003-B Bonds. When there are no longer any Series 2003-B Bonds outstanding, any money in the Series 2003-B Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Series 2003-B Bonds.

(D) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2003-A, Excess Earnings Fund (Series 2003-A Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 2003-A Bonds. The Treasurer shall deposit money from the Construction Funds and the Series 2003-A Debt Service Fund into the Series 2003-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2003-A Bonds. Money in the Series 2003-A Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2003-A Bonds in accordance with the City’s Tax Certificate for the Series 2003-A Bonds.

(E) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2003-B, Excess Earnings Fund (Series 2003-B Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 2003-B Bonds. The Treasurer shall deposit money from the Series 2003-B Debt Service Fund into the Series 2003-B Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2003-B Bonds. Money in the Series 2003-B Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2003-B Bonds in accordance with the City’s Tax Certificate for the Series 2003-B Bonds.

(F) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2003-A and Refunding Series 2003-B Costs of Issuance Fund (Series 2003-A and Series 2003-B Costs of Issuance Fund) for the purpose of paying all expenses incident to the sale and issuance of the Series 2003-A Bonds and Series 2003-B Bonds. After payment of all costs of issuance, any money then remaining in the Costs of Issuance Fund, including any interest earnings, shall be transferred on a pro-rata basis to the respective Construction Funds.

(G) Pursuant to Charter Section 344 , money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 175,367, Eff. 8-3-03.

(A) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2004-A, 911-Police-Fire- Paramedic Projects Construction Fund (Series 2004-A Construction Fund) for the purpose of receiving money from the sale of the Series 2004-A Bonds. No expenditures may be made from the Construction Fund except for the purposes of the 911-Police-Fire-Paramedic Facilities Projects, as approved by the voters on March 5, 2002. When all facilities and improvement projects to be paid out of the Construction Fund are completed, any money remaining in the Construction Fund shall be deposited into the Series 2004-A Debt Service Fund, subject to any conditions in the City’s Tax Certificate for the Series 2004-A Bonds. All earnings by the Construction Fund shall be retained in the Construction Fund until expended for the purposes of the Construction Fund or the Treasurer directs that some or all of the earnings be deposited into the Series 2004-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2004-A Bonds.

(B) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2004-A, Debt Service Fund (Series 2004-A Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the Series 2004-A Bonds, and repayment of any temporary transfers from the City’s Reserve Fund. The accrued interest, if any, received by the City from the sale of the Series 2004-A Bonds and all money from the collection of property taxes for the Series 2004-A Bonds shall be deposited into the Series 2004-A Debt Service Fund. The Series 2004-A Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Series 2004-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2004-A Bonds. When there are no longer any Series 2004-A Bonds outstanding, any money in the Series 2004-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Series 2004-A Bonds.

(C) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2004-A, Excess Earnings Fund (Series 2004-A Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 2004-A Bonds. The Treasurer shall deposit money from the Construction Fund and the Series 2004-A Debt Service Fund into the Series 2004-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2004-A Bonds. Money in the Series 2004-A Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2004-A Bonds in accordance with the City’s Tax Certificate for the Series 2004-A Bonds.

(D) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2004-A, Costs of Issuance Fund (Series 2004-A Costs of Issuance Fund) for the purpose of paying all expenses incident to the sale and issuance of the Series 2004-A Bonds. After payment of all costs of issuance, any money then remaining in the Costs of Issuance Fund, including any interest earnings, shall be transferred to the Series 2004-A Construction Fund.

(E) Pursuant to Charter Section 344 , money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 176,107, Eff. 7-26-04.

(A) There is created within the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the Series 2005-A Bonds, the following special funds: (1) General Obligation Bonds, Series 2005-A, Fire/Paramedic, Emergency Helicopter Facilities Construction Fund and (2) General Obligation Bonds, Series 2005-A, Clean Water, Ocean, River, Beach, Bay Storm Water Clean-up Projects Construction Fund. No expenditures may be made from these Construction Funds except for the purposes of the Fire/Paramedic, Emergency Helicopter Facilities Projects and Clean Water, Ocean, River, Beach, Bay Storm Water Clean-up Projects, as approved by the voters on November 7, 2000, and November 2, 2004, respectively. When all facilities and improvement projects to be paid out of a Construction Fund are completed, any money remaining in that Construction Fund shall be deposited into the Series 2005-A Debt Service Fund, subject to any conditions in the City’s Tax Certificate for the Series 2005-A Bonds. All earnings by each Construction Fund shall be retained in the respective Construction Fund until expended for the purposes of the Construction Fund or the Treasurer directs that some or all of the earnings be deposited into the Series 2005-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2005-A Bonds.

(B) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2005-A, Debt Service Fund (Series 2005-A Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the Series 2005-A Bonds, and repayment of any temporary transfers from the City’s Reserve Fund. The accrued interest, if any, received by the City from the sale of the Series 2005-A Bonds and all money from the collection of property taxes for the Series 2005-A Bonds shall be deposited into the Series 2005-A Debt Service Fund. The Series 2005-A Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Series 2005-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2005-A Bonds. When there are no longer any Series 2005-A Bonds outstanding, any money in the Series 2005-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Series 2005-A Bonds.

(C) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2005-B, Debt Service Fund (Refunding Series 2005-B Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the Series 2005-B Bonds, and repayment of any temporary transfers from the City’s Reserve Fund. The accrued interest, if any, received by the City from the sale of the Series 2005-B Bonds and all money from the collection of property taxes for the Series 2005-B Bonds shall be deposited into the Refunding Series 2005-B Debt Service Fund. The Refunding Series 2005-B Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Refunding Series 2005-B Excess Earnings Fund in accordance with the City’s Tax Certificate for the Refunding Series 2005-B Bonds. When there are no longer any Refunding Series 2005-B Bonds outstanding, any money in the Refunding Series 2005-B Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Refunding Series 2005-B Bonds.

(D) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2005-A, Excess Earnings Fund (Series 2005-A Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 2005-A Bonds. The Treasurer shall deposit money from the Construction Funds and the Series 2005-A Debt Service Fund into the Series 2005-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2005-A Bonds. Money in the Series 2005-A Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2005-A Bonds in accordance with the City’s Tax Certificate for the Series 2005-A Bonds.

(E) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2005-B, Excess Earnings Fund (Refunding Series 2005-B Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Refunding Series 2005-B Bonds. The Treasurer shall deposit money from the Refunding Series 2005-B Debt Service Fund into the Refunding Series 2005-B Excess Earnings Fund in accordance with the City’s Tax Certificate for the Refunding Series 2005-B Bonds. Money in the Refunding Series 2005-B Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Refunding Series 2005-B Bonds in accordance with the City’s Tax Certificate for the Refunding Series 2005-B Bonds.

(F) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2005-A and Refunding Series 2005-B, Costs of Issuance Fund (Series 2005 Costs of Issuance Fund) for the purpose of paying all expenses incident to the sale and issuance of the Series 2005-A and Refunding Series 2005-B Bonds. After payment of all costs of issuance, any money then remaining in the Costs of Issuance Fund, including any interest earnings, shall be transferred on a pro rata basis to the Series 2005-A, Fire/Paramedic, Emergency Helicopter Facilities Construction Fund and Series 2005-A, Clean Water, Ocean, River, Beach Bay Storm Water Clean-up Projects Construction Fund.

(G) Pursuant to Charter Section 344 , money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 176,839, Eff. 8-4-05.

(A) There is created within the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the Series 2006-A Bonds, the following special funds: (1) General Obligation Bonds, Series 2006-A, Fire/Paramedic, Emergency Helicopter Facilities Construction Fund, (2) General Obligation Bonds, Series 2006-A, Animal Shelter Facilities Construction Fund, (3) General Obligation Bonds, Series 2006-A, 911-Police- Fire-Paramedic Projects Construction Fund, and (4) General Obligation Bonds, Series 2006-A, Clean Water, Ocean, River, Beach, Bay Storm Water Clean-up Projects Construction Fund. No expenditures may be made from these Construction Funds except for the purposes of the Fire/Paramedic, Emergency Helicopter Facilities Projects, Animal Shelter Facilities Projects, 911-Police- Fire-Paramedic Projects, and Clean Water, Ocean, River, Beach, Bay Storm Water Clean-up Projects, as approved by the voters on November 7, 2000, March 5, 2002, and November 2, 2004, respectively. When all facilities and improvement projects to be paid out of a Construction Fund are completed, any money remaining in that Construction Fund shall be deposited into the Series 2006-A Debt Service Fund, subject to any conditions in the City’s Tax Certificate for the Series 2006-A Bonds. All earnings by each Construction Fund shall be retained in the respective Construction Fund until expended for the purposes of the Construction Fund or the Treasurer directs that some or all of the earnings be deposited into the Series 2006-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2006-A Bonds.

(B) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2006-A, Debt Service Fund (Series 2006-A Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the Series 2006-A Bonds, and repayment of any temporary transfers from the City’s Reserve Fund. The accrued interest, if any, received by the City from the sale of the Series 2006-A Bonds and all money from the collection of property taxes for the Series 2006-A Bonds shall be deposited into the Series 2006-A Debt Service Fund. The Series 2006-A Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Series 2006-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2006-A Bonds. When there are no longer any Series 2006-A Bonds outstanding, any money in the Series 2006-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Series 2006-A Bonds.

(C) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2006-A, Excess Earnings Fund (Series 2006-A Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 2006-A Bonds. The Treasurer shall deposit money from the Construction Funds and the Series 2006-A Debt Service Fund into the Series 2006-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2006-A Bonds. Money in the Series 2006-A Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2006-A Bonds in accordance with the City’s Tax Certificate for the Series 2006-A Bonds.

(D) There is created within the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2006-A, Costs of Issuance Fund (Series 2006 Costs of Issuance Fund) for the purpose of paying all expenses incident to the sale and issuance of the Series 2006-A Bonds. After payment of all costs of issuance, any money then remaining in the Costs of Issuance Fund, including any interest earnings, shall be transferred on a pro rata basis to the Series 2006-A, Fire/Paramedic, Emergency Helicopter Facilities Construction Fund, Series 2006-A, Animal Shelter Facilities Construction Fund, Series 2006-A, 911-Police-Fire-Paramedic Projects Construction Fund, and Series 2006-A, Clean Water, Ocean, River, Beach Bay Storm Water Clean-up Projects Construction Fund.

(E) Pursuant to Charter Section 344 , money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 177,733, Eff. 7-28-06.

(A) There is hereby established in the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the General Obligation Bonds, Series 2008-A (Series 2008-A Bonds), the General Obligation Bonds, Series 2008-A, Clean Water, Ocean, River, Beach, Bay Storm Water Clean-up Projects Construction Fund (Construction Fund). No expenditures may be made from the Construction Fund except for the purposes of the Clean Water, Ocean, River, Beach, Bay Storm Water Clean-up Projects, as approved by the voters on November 2, 2004. When all facilities and improvement projects are completed, any money remaining in the Construction Fund shall be deposited into the Series 2008-A Debt Service Fund, subject to any conditions in the City’s Tax Certificate for the Series 2008-A Bonds. All earnings by the Construction Fund shall be retained in the Construction Fund until expended for the purposes of the Construction Fund or the Treasurer directs that some or all of the earnings be deposited into the Series 2008-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2008-A Bonds.

(B) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2008-A, Debt Service Fund (Series 2008-A Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the Series 2008-A Bonds, and repayment of any temporary transfers from the City’s Reserve Fund. The accrued interest, if any, received by the City from the sale of the Series 2008-A Bonds and all money from the collection of property taxes for the Series 2008-A Bonds shall be deposited into the Series 2008-A Debt Service Fund. The Series 2008-A Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Series 2008-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2008-A Bonds. When there are no longer any Series 2008-A Bonds outstanding, any money in the Series 2008-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Series 2008-A Bonds.

(C) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2008-A, Excess Earnings Fund (Series 2008-A Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 2008-A Bonds. The Treasurer shall deposit money from the Construction Fund and the Series 2008-A Debt Service Fund into the Series 2008-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2008-A Bonds. Money in the Series 2008-A Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2008-A Bonds in accordance with the City’s Tax Certificate for the Series 2008-A Bonds.

(D) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2008-A, Costs of Issuance Fund (Series 2008-A Costs of Issuance Fund) for the purpose of paying all expenses incident to the sale and issuance of the Series 2008-A Bonds. After payment of all costs of issuance, any money then remaining in the Costs of Issuance Fund, including any interest earnings, shall be transferred to the Construction Fund or the Series 2008-A Debt Service Fund, as determined by the City Administrative Officer.

(E) Pursuant to City Charter Section 344, money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 180,090, Eff. 8-5-08.

(A) There is hereby established in the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the General Obligation Bonds, Series 2009-A (Series 2009-A Bonds) and Series 2009-B (Series 2009-B Bonds) (together, Series 2009 Bonds), the General Obligation Bonds, Series 2009 Clean Water, Ocean, River, Beach, Bay Storm Water Clean-up Projects Construction Fund (Construction Fund). No expenditures may be made from the Construction Fund except for the purposes of the Clean Water, Ocean, River, Beach, Bay Storm Water Clean-up Projects, as approved by the voters on November 2, 2004. When all facilities and improvement projects are completed, any money remaining in the Construction Fund shall be deposited into the Series 2009 Debt Service Fund, subject to any conditions in the applicable Tax Certificate for the Series 2009-A Bonds and Series 2009-B Bonds. All earnings by the Construction Fund shall be retained in the Construction Fund until expended for the purposes of the Construction Fund or the Treasurer directs that some or all of the earnings be deposited into the Series 2009 Excess Earnings Fund in accordance with the applicable Tax Certificate.

(B) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2009 Debt Service Fund (Series 2009 Debt Service Fund) within which are established the Series 2009-A Debt Service Account and the Series 2009-B Debt Service Account, for the purposes of payment of principal, premium, if any, and interest on the Series 2009-A Bonds and Series 2009-B Bonds respectively, and repayment of any temporary transfers from the City’s Reserve Fund. The accrued interest, if any, received by the City from the sale of the Series 2009 Bonds and all money from the collection of property taxes for the Series 2009 Bonds shall be deposited into the applicable account in the Series 2009 Debt Service Fund. The Series 2009 Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Series 2009 Excess Earnings Fund in accordance with the applicable Tax Certificate. When there are no longer any Series 2009 Bonds outstanding, any money in the Series 2009 Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the applicable Tax Certificate.

(C) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2009 Excess Earnings Fund (Series 2009 Excess Earnings Fund), within which are established the Series 2009-A Excess Earnings Account and the Series 2009-B Excess Earnings Account, for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 2009-A Bonds and on the Series 2009-B bonds, respectively. The Treasurer shall deposit money from the Construction Fund and the Series 2009 Debt Service Fund, in accordance with the applicable Tax Certificate, to the applicable Excess Earnings Account. Money in the Series 2009 Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2009 Bonds in accordance with the applicable Tax Certificate.

(D) Pursuant to City Charter Section 344, money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 180,808, Eff. 7-30-09.

(A) There is hereby established in the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the General Obligation Bonds, Series 2011-A (Series 2011-A Bonds), the General Obligation Bonds, Series 2011-A, Clean Water, Ocean, River, Beach, Bay Storm Water Clean-up Projects Construction Fund (Construction Fund). No expenditures may be made from the Construction Fund except for the purposes of the Clean Water, Ocean, River, Beach, Bay Storm Water Clean-up Projects, as approved by the voters on November 2, 2004. When all facilities and improvements projects are completed, any money remaining in the Construction Fund shall be deposited into the Series 2011-A Debt Service Fund, subject to any conditions in the City’s Tax Certificate for the Series 2011-A Bonds. All earnings by the Construction Fund shall be retained in the Construction Fund until expended for the purposes of the Construction Fund or the Treasurer directs that some or all of the earnings be deposited into the Series 2011-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2011-A Bonds.

(B) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2011-A, Debt Service Fund (Series 2011-A Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the Series 2011-A Bonds, and repayment of any temporary transfers from the City’s Reserve Fund. The accrued interest, if any, received by the City from the sale of the Series 2011-A Bonds and all money from the collection of property taxes for the Series 2011-A Bonds shall be deposited into the Series 2011-A Debt Service Fund. The Series 2011-A Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Series 2011-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2011-A Bonds. When there are no longer any Series 2011-A Bonds outstanding, any money in the Series 2011-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Series 2011-A Bonds.

(C) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2011-B, Debt Service Fund (Refunding Series 2011-B Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the Refunding Series 2011-B Bonds, and repayment of any temporary transfers form the City’s Reserve Fund. The accrued interest, if any, received by the City from the sale of the Refunding Series 2011-B Bonds and all money from the collection of property taxes for the Refunding Series 2011-B Bonds shall be deposited into the Refunding Series 2011-B Debt Service Fund. The Refunding Series 2011-B Debt Service Fund shall retain all of its earnings until they are expended for debt service or the Treasurer directs that some or all of the earnings be deposited into the Refunding Series 2011-B Excess Earnings Fund in accordance with the City’s Tax Certificate for the Refunding Series 2011-B Bonds. When there are no longer any Refunding Series 2011-B Bonds outstanding, any money in the Refunding Series 2011-B Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Refunding Series 2011-B Bonds.

(D) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Series 2011-A, Excess Earnings Fund (Series 2011-A Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Series 2011-A Bonds. The Treasurer shall deposit money from the Construction Fund and the Series 2011-A Debt Service Fund into the Series 2011-A Excess Earnings Fund in accordance with the City’s Tax Certificate for the Series 2011-A Bonds. Money in the Series 2011-A Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Series 2011-A Bonds in accordance with the City’s Tax Certificate for the Series 2011-A Bonds.

(E) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2011-B, Excess Earnings Fund (Refunding Series 2011-B Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Refunding Series 2011-B Bonds. The Treasurer shall deposit money from the Refunding Series 2011-B Debt Service Fund into the Refunding Series 2011-B Excess Earnings Fund in accordance with the City’s Tax Certificate for the Refunding Series 2011-B Bonds. Money in the Refunding Series 2011-B Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Refunding Series 2011-B Bonds in accordance with the City’s Tax Certificate for the Refunding Series 2011-B Bonds.

(F) Pursuant to City Charter Section 344, money in the special funds shall not be subject to reversion of the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 181,755, Eff. 7-1-11.

(A) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2011-C, Debt Service Fund (Refunding Series 2011-C Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest of the Refunding Series 2011-C Bonds, and repayment of any temporary transfers from the City’s Reserve Fund. The accrued interest, if any, received by the City from the sale of the Refunding Series 2011-C Bonds and all money from the collection of property taxes for the Refunding Series 2011-C Bonds shall be deposited into the Refunding Series 2011-C Debt Service Fund. The Refunding Series 2011-C debt Service Fund shall retain all of its earnings until they are expended for debt service of the Treasurer directs that some or all of the earnings be deposited into the Refunding Series 2011-C Excess Earnings Fund in accordance with the City’s Tax Certificate for the Refunding Series 2011-C Bonds. When there are no longer any Refunding Series 2011-C Bonds outstanding, any money in the Refunding Series 2011-C Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Refunding Series 2011-C Bonds.

(B) There is hereby established in the Treasury of the City of Los Angeles a special fund named the General Obligation Bonds, Refunding Series 2011-C, Excess Earnings Fund (Refunding Series 2011-C Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Refunding Series 2011-C Bonds. The Treasurer shall deposit money from the Refunding Series 2011-C Debt Service Fund into the Refunding Series 2011-C Excess Earnings Fund in accordance with the City’s Tax Certificate for the Refunding Series 2011-C Bonds. Money in the Refunding Series 2011-C Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Refunding Series 2011-C Bonds in accordance with the City’s Tax Certificate for the Refunding Series 2011-C Bonds.

(C) Pursuant to City Charter Section 344, money in the special funds shall not be subject to reversion to the Reverse Fund of the City.

SECTION HISTORY

Added by Ord. No. 181,909, Eff. 10-21-11.

(A) There is hereby established in the Treasury of the City of Los Angeles a special fund named the “General Obligation Refunding Bonds, Series 2016-A (Taxable), Debt Service Fund” (Refunding Series 2016-A Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the General Obligation Refunding Bonds, Series 2016-A (Taxable), and repayment of any temporary transfers from the City’s Reserve Fund. The accrued interest, if any, received by the City from the sale of the General Obligation Refunding Bonds, Series 2016-A (Taxable) and all money from the collection of property taxes for the General Obligation Refunding Bonds, Series 2016-A (Taxable) shall be deposited into the Refunding Series 2016-A Debt Service Fund. The Refunding Series 2016-A Debt Service Fund shall retain all of its earning until they are expended for debt service in accordance with the City’s resolution authorizing the issuance of the General Obligation Refunding Bonds, Series 2016-A (Taxable). When there are no longer any General Obligation Refunding Bonds, Series 2016-A (Taxable) outstanding, any money in the Refunding Series 2016-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s resolution authorizing the issuance of the General Obligation Refunding Bonds, Series 2016-A (Taxable).

(B) Pursuant to City Charter Section 344, money in the Refunding Series 2016-A Debt Service Fund shall not be subject to reversion to the Reserve Fund of the City at the close of each fiscal year.

SECTION HISTORY

Added by Ord. No. 184,602, Eff. 12-12-16.

(A) There is hereby established in the Treasury of the City of Los Angeles (City) for the purpose of receiving money from the sale of the General Obligation Bonds, Series 2017-A (Taxable) (Series 2017-A (Taxable) Bonds), the “General Obligation Bonds, Series 2017-A (Taxable) Prop HHH Construction Fund” (Series 2017-A Construction Fund). No expenditures may be made from the Series 2017-A Construction Fund except for the purposes of providing safe, clean affordable housing for the homeless and for those in danger of becoming homeless, such as battered women and their children, veterans, senior, foster youth, and the disabled; and providing facilities to increase access to mental health care, drug and alcohol treatment and other services, as authorized by over two- thirds of all of the qualified voters at the special election on November 8, 2016 (Prop HHH Projects). When all Prop HHH Projects related to the Series 2017-A (Taxable) Bonds are completed, any money remaining in the Series 2017-A Construction Fund shall be deposited into the Series 2017-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2017-A (Taxable) Bonds. All the earnings of the Series 2017-A Construction Fund shall be retained therein until expended for the contemplated purposes herein or until the Treasurer directs that some or all of the earnings be deposited into the Series 2017-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2017-A (Taxable) Bonds.

(B) There is hereby established in the Treasury of the City a special fund named the “General Obligation Bonds, Series 2017-A (Taxable) Debt Service Fund” (Series 2017-A Debt Service Fund), for the purposes of payment of principal, premium, if any, and interest on the Series 2017-A (Taxable) Bonds. The accrued interest, if any, received by the City from the sale of the Series 2017-A (Taxable) Bonds and all money from the collection of property taxes for the Series 2017-A (Taxable) Bonds shall be deposited into the Series 2017-A Debt Service Fund. The Series 2017-A Debt Service Fund shall retain all of its earnings until they are expended for debt service. When there are no longer any Series 2017-A (Taxable) Bonds outstanding, any money in the Series 2017-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2017-A (Taxable) Bonds.

(C) Pursuant to City Charter Section 344, money in the special funds described herein shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 185,013, Eff. 6-26-17.

(A) There is hereby established in the Treasury of the City of Los Angeles (City) a special fund named the “General Obligation Refunding Bonds, Series 2017-B (Tax-Exempt) Debt Service Fund” (Series 2017-B Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the General Obligation Refunding Bonds, Series 2017-B (Tax-Exempt) (Refunding Series 2017-B (Tax-Exempt) Bonds). The accrued interest, if any, received by the City from the sale of Refunding Series 2017-B (Tax-Exempt) Bonds and all money from the collection of property taxes for the Refunding Series 2017-B (Tax-Exempt) Bonds shall be deposited into Series 2017-B Debt Service Fund. The Series 2017-B Debt Service Fund shall retain all of its earnings until they are expended for debt service or until the Treasurer directs that some or all of the earnings be deposited in the Series 2017-B Excess Earnings Fund in accordance with the City’s Tax Certificate for Refunding Series 2017-B (Tax-Exempt) Bonds. When there are no longer any Refunding Series 2017-B (Tax- Exempt) Bonds outstanding, any money in the Series 2017-B Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Refunding Series 2017-B (Tax-Exempt) Bonds.

(B) There is hereby established in the Treasury of the City a special fund named the “General Obligation Refunding Bonds, Series 2017-B (Tax-Exempt) Excess Earnings Fund” (Series 2017-B Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Refunding Series 2017-B (Tax-Exempt) Bonds. The Treasurer shall deposit money from the Series 2017-B Debt Service Fund, in accordance with the applicable Tax Certificate, to the Series 2017-B Excess Earnings Fund. Money in the Series 2017-B Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Refunding Series 2017-B (Tax-Exempt) Bonds, subject to any conditions in the City’s Tax Certificate for the Refunding Series 2017-B (Tax-Exempt) Bonds.

(C) Pursuant to City Charter Section 344, money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 185,013, Eff. 6-26-17.

(A) There is hereby established in the Treasury of the City of Los Angeles (City) for the purpose of receiving money from the sale of the General Obligation Bonds, Series 2018-A (Taxable) (Series 2018-A (Taxable) Bonds), the “General Obligation Bonds, Series 2018-A (Taxable) Prop HHH Construction Fund” (Series 2018-A Construction Fund). No expenditures may be made from the Series 2018-A Construction Fund except for the purposes of providing safe, clean affordable housing for the homeless and for those in danger of becoming homeless, such as battered women and their children, veterans, senior, foster youth, and the disabled; and providing facilities to increase access to mental health care, drug and alcohol treatment and other services, as authorized by over two- thirds of all of the qualified voters at the special election on November 8, 2016 (Prop HHH Projects). When all Prop HHH Projects related to the Series 2018-A (Taxable) Bonds are completed, any money remaining in the Series 2018-A Construction Fund shall be deposited into the Series 2018-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2018-A (Taxable) Bonds. All the earnings of the Series 2018-A Construction Fund shall be retained therein until expended for the contemplated purposes herein or until the Treasurer directs that some or all of the earnings be deposited into the Series 2018-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2018-A (Taxable) Bonds.

(B) There is hereby established in the Treasury of the City a special fund named the “General Obligation Bonds, Series 2018-A (Taxable) Debt Service Fund” (Series 2018-A Debt Service Fund), for the purposes of payment of principal, premium, if any, and interest on the Series 2018-A (Taxable) Bonds. The accrued interest, if any, received by the City from the sale of the Series 2018-A (Taxable) Bonds and all money from the collection of property taxes for the Series 2018-A (Taxable) Bonds shall be deposited into the Series 2018-A Debt Service Fund. The Series 2018-A Debt Service Fund shall retain all of its earnings until they are expended for debt service. When there are no longer any Series 2018-A (Taxable) Bonds outstanding, any money in the Series 2018-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2018-A (Taxable) Bonds.

(C) Pursuant to City Charter Section 344, money in the special funds described herein shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 185,602, Eff. 6-13-18.

(A) There is hereby established in the Treasury of the City of Los Angeles (City) a special fund named the “General Obligation Refunding Bonds, Series 2018-B (Tax-Exempt) Debt Service Fund” (Series 2018-B Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the General Obligation Refunding Bonds, Series 2018-B (Tax-Exempt) (Refunding Series 2018-B (Tax-Exempt) Bonds). The accrued interest, if any, received by the City from the sale of Refunding Series 2018-B (Tax-Exempt) Bonds and all money from the collection of property taxes for the Refunding Series 2018-B (Tax-Exempt) Bonds shall be deposited into Series 2018-B Debt Service Fund. The Series 2018-B Debt Service Fund shall retain all of its earnings until they are expended for debt service or until the Treasurer directs that some or all of the earnings be deposited in the Series 2018-B Excess Earnings Fund in accordance with the City’s Tax Certificate for Refunding Series 2018-B (Tax-Exempt) Bonds. When there are no longer any Refunding Series 2018-B (Tax- Exempt) Bonds outstanding, any money in the Series 2018-B Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Refunding Series 2018-B (Tax-Exempt) Bonds.

(B) There is hereby established in the Treasury of the City a special fund named the “General Obligation Refunding Bonds, Series 2018-B (Tax-Exempt) Excess Earnings Fund” (Series 2018-B Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Refunding Series 2018-B (Tax-Exempt) Bonds. The Treasurer shall deposit money from the Series 2018-B Debt Service Fund, in accordance with the applicable Tax Certificate, to the Series 2018-B Excess Earnings Fund. Money in the Series 2018-B Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Refunding Series 2018-B (Tax-Exempt) Bonds, subject to any conditions in the City’s Tax Certificate for the Refunding Series 2018-B (Tax-Exempt) Bonds.

(C) Pursuant to City Charter Section 344, money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 185,602, Eff. 6-13-18.

(A) There is hereby established in the Treasury of the City of Los Angeles (City) a special fund named the “General Obligation Refunding Bonds, Series 2018-C (Taxable) Debt Service Fund” (Series 2018-C Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the General Obligation Refunding Bonds, Series 2018-C (Taxable) (Refunding Series 2018-C (Taxable) Bonds). The accrued interest, if any, received by the City from the sale of Refunding Series 2018-C (Taxable) Bonds and all money from the collection of property taxes for the Refunding Series 2018-C (Taxable) Bonds shall be deposited into Series 2018-C Debt Service Fund. The Series 2018-C Debt Service Fund shall retain all of its earnings until they are expended for debt service. When there are no longer any Refunding Series 2018-C (Taxable) Bonds outstanding, any money in the Series 2018-C Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Refunding Series 2018-C (Taxable) Bonds.

(B) Pursuant to City Charter Section 344, money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 185,602, Eff. 6-13-18.

(A) There is hereby established in the Treasury of the City of Los Angeles (City) for the purpose of receiving money from the sale of the General Obligation Bonds, Series 2021-A (Taxable) (Social Bonds) (Series 2021-A (Taxable) Bonds), the “General Obligation Bonds, Series 2021-A (Taxable) Prop HHH Construction Fund” (Series 2021-A Construction Fund). No expenditures may be made from the Series 2021-A Construction Fund except to provide housing and facilities projects, as further described in Proposition HHH and as authorized by over two-thirds of all of the qualified voters at the special election on November 8, 2016 (Prop HHH Projects). When all Prop HHH Projects related to the Series 2021-A (Taxable) Bonds are completed, any money remaining in the Series 2021-A Construction Fund shall be deposited into the Series 2021-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2021-A (Taxable) Bonds. All the earnings of the Series 2021-A Construction Fund shall be retained therein until expended for the contemplated purposes herein or until the Treasurer directs that some or all of the earnings be deposited into the Series 2021-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2021-A (Taxable) Bonds.

(B) There is hereby established in the Treasury of the City a special fund named the “General Obligation Bonds, Series 2021-A (Taxable) Debt Service Fund” (Series 2021-A Debt Service Fund), for the purposes of payment of principal, premium, if any, and interest on the Series 2021-A (Taxable) Bonds. The accrued interest, if any, received by the City from the sale of the Series 2021-A (Taxable) Bonds and all money from the collection of property taxes for the Series 2021-A (Taxable) Bonds shall be deposited into the Series 2021-A Debt Service Fund. The Series 2021-A Debt Service Fund shall retain all of its earnings until they are expended for debt service. When there are no longer any Series 2021-A (Taxable) Bonds outstanding, any money in the Series 2021-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2021-A (Taxable) Bonds.

(C) Pursuant to City Charter Section 344, money in the special funds described herein shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 187,234, Eff. 10-22-21.

(A) There is hereby established in the Treasury of the City of Los Angeles (City) a special fund named the “General Obligation Refunding Bonds, Series 2021-B (Tax-Exempt) Debt Service Fund” (Series 2021-B Debt Service Fund) for the purposes of payment of principal, premium, if any, and interest on the General Obligation Refunding Bonds, Series 2021-B (Tax-Exempt) (Refunding Series 2021-B (Tax-Exempt) Bonds). The accrued interest, if any, received by the City from the sale of Refunding Series 2021-B (Tax-Exempt) Bonds and all money from the collection of property taxes for the Refunding Series 2021-B (Tax-Exempt) Bonds shall be deposited into the Series 2021-B Debt Service Fund. The Series 2021-B Debt Service Fund shall retain all of its earnings until they are expended for debt service or until the Treasurer directs that some or all of the earnings be deposited in the Series 2021-B Excess Earnings Fund in accordance with the City’s Tax Certificate for the Refunding Series 2021-B (Tax-Exempt) Bonds. When there are no longer any Refunding Series 2021-B (Tax-Exempt) Bonds outstanding, any money in the Series 2021-B Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s Tax Certificate for the Refunding Series 2021-B (Tax-Exempt) Bonds and any conditions in the City’s resolution authorizing the issuance of the Refunding Series 2021-B (Tax-Exempt) Bonds.

(B) There is hereby established in the Treasury of the City a special fund named the “General Obligation Refunding Bonds, Series 2021-B (Tax-Exempt) Excess Earnings Fund” (Series 2021-B Excess Earnings Fund) for the purpose of holding money that the Treasurer finds to be earnings in excess of the yield on the Refunding Series 2021-B (Tax-Exempt) Bonds. The Treasurer shall deposit money from the Series 2021-B Debt Service Fund, in accordance with the City’s Tax Certificate for the Refunding Series 2021-B (Tax-Exempt) Bonds, to the Series 2021-B Excess Earnings Fund. Money in the Series 2021-B Excess Earnings Fund shall be used only for payments to the United States or for deposit into other funds or accounts pertaining to the Refunding Series 2021-B (Tax-Exempt) Bonds, subject to any conditions in the City’s Tax Certificate for the Refunding Series 2021-B (Tax-Exempt) Bonds.

(C) Pursuant to City Charter Section 344, money in the special funds shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 187,234, Eff. 10-22-21.

(A) There is hereby established in the Treasury of the City of Los Angeles (City) for the purpose of receiving money from the sale of the City of Los Angeles General Obligation Bonds, Series 2022-A (Taxable) (Social Bonds) (Series 2022-A Bonds), the “General Obligation Bonds, Series 2022-A (Taxable) Proposition HHH Construction Fund” (Series 2022-A Construction Fund). Accounts and subaccounts may be established within the Series 2022-A Construction Fund as deemed necessary or desirable, and references herein to the Series 2022-A Construction Fund include any accounts and subaccounts that may be established therein. No expenditures may be made from the Series 2022-A Construction Fund except to provide housing and facilities projects, as further described in Proposition HHH and as authorized by over two-thirds of all of the qualified voters at the special election on November 8, 2016 (Prop HHH Projects). When all Prop HHH Projects related to the Series 2022-A Bonds are completed, any money remaining in the Series 2022-A Construction Fund shall be deposited into the Series 2022-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2022-A Bonds. All the earnings of the Series 2022-A Construction Fund shall be retained therein until expended for the contemplated purposes herein or until the Treasurer directs that some or all of the earnings be deposited into the Series 2022-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2022-A Bonds.

(B) There is hereby established in the Treasury of the City a special fund named the “General Obligation Bonds, Series 2022-A (Taxable) Debt Service Fund” (Series 2022-A Debt Service Fund), for the purposes of payment of principal, premium, if any, and interest on the Series 2022-A Bonds. The accrued interest, if any, received by the City from the sale of the Series 2022-A Bonds and all money from the collection of property taxes for the Series 2022-A Bonds shall be deposited into the Series 2022-A Debt Service Fund. The Series 2022-A Debt Service Fund shall retain all of its earnings until they are expended for debt service on the Series 2022-A Bonds. When there are no longer any Series 2022-A Bonds outstanding, any money in the Series 2022-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2022-A Bonds.

(C) Pursuant to City Charter Section 344, money in the special funds described herein shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 187,615, Eff. 9-12-22.

(A) There is hereby established in the Treasury of the City of Los Angeles (City) for the purpose of receiving money from the sale of the City of Los Angeles General Obligation Bonds, Series 2024-A (Taxable) (Social Bonds) (Series 2024-A Bonds), the “General Obligation Bonds, Series 2024-A (Taxable) Proposition HHH Construction Fund” (Series 2024-A Construction Fund). Accounts and subaccounts may be established within the Series 2024-A Construction Fund as deemed necessary or desirable, and references herein to the Series 2024-A Construction Fund include any accounts and subaccounts that may be established therein. No expenditures may be made from the Series 2024-A Construction Fund except to finance housing and facilities projects, as further described in Proposition HHH and as authorized by over two-thirds of all of the qualified voters at the special election on November 8, 2016 (Prop HHH Projects). When all Prop HHH Projects related to the Series 2024-A Bonds are completed, any money remaining in the Series 2024-A Construction Fund shall be deposited into the Series 2024-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2024-A Bonds. All the earnings of the Series 2024-A Construction Fund shall be retained therein until expended for the contemplated purposes herein or until the Treasurer directs that some or all of the earnings be deposited into the Series 2024-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2024-A Bonds.

(B) There is hereby established in the Treasury of the City a special fund named the “General Obligation Bonds, Series 2024-A (Taxable) Debt Service Fund” (Series 2024-A Debt Service Fund), for the purposes of payment of principal, premium, if any, and interest on the Series 2024-A Bonds. The accrued interest, if any, received by the City from the sale of the Series 2024-A Bonds and all money from the collection of property taxes for the Series 2024-A Bonds shall be deposited into the Series 2024-A Debt Service Fund. The Series 2024-A Debt Service Fund shall retain all of its earnings until they are expended for debt service on the Series 2024-A Bonds. When there are no longer any Series 2024-A Bonds outstanding, any money in the Series 2024-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2024-A Bonds.

(C) Pursuant to City Charter Section 344, money in the special funds described herein shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 188,148, Eff. 3-15-24.

(A) There is hereby established in the Treasury of the City of Los Angeles (City) for the purpose of receiving money from the sale of the City of Los Angeles General Obligation Bonds, Series 2026-A (Taxable) (Social Bonds) (Series 2026-A Bonds), the “General Obligation Bonds, Series 2026-A (Taxable) Proposition HHH Construction Fund” (Series 2026-A Construction Fund). Accounts and subaccounts may be established within the Series 2026-A Construction Fund as deemed necessary or desirable, and references herein to the Series 2026-A Construction Fund include any accounts and subaccounts that may be established therein. No expenditures may be made from the Series 2026-A Construction Fund except to finance housing and facilities projects, as further described in Proposition HHH and as authorized by over two-thirds of all of the qualified voters at the special election on November 8, 2016 (Prop HHH Projects). When all Prop HHH Projects related to the Series 2026-A Bonds are completed, any money remaining in the Series 2026-A Construction Fund shall be deposited into the Series 2026-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2026-A Bonds. All the earnings of the Series 2026-A Construction Fund shall be retained therein until expended for the contemplated purposes herein or until the Treasurer directs that some or all of the earnings be deposited into the Series 2026-A Debt Service Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2026-A Bonds.

(B) There is hereby established in the Treasury of the City a special fund named the “General Obligation Bonds, Series 2026-A (Taxable) Debt Service Fund” (Series 2026-A Debt Service Fund), for the payment of principal of, premium, if any, and interest on the Series 2026-A Bonds. The accrued interest, if any, received by the City from the sale of the Series 2026-A Bonds and all money from the collection of property taxes for the Series 2026-A Bonds shall be deposited into the Series 2026-A Debt Service Fund. The Series 2026-A Debt Service Fund shall retain all of its earnings until they are expended for debt service on the Series 2026-A Bonds. When there are no longer any Series 2026-A Bonds outstanding, any money remaining in the Series 2026-A Debt Service Fund shall be deposited into the City’s General Fund, subject to any conditions in the City’s resolution authorizing the issuance of the Series 2026-A Bonds.

(C) Pursuant to City Charter Section 344, money in the special funds described herein shall not be subject to reversion to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 188,784, Eff. 12-19-25.