Los Angeles Municipal Code Art. 2.5 Special Acquisitions and Improvements Financing Funds

Section

5.162 Certificates of Participation (MICLA L Equipment Acquisition Program).

5.162.9 MICLA Special Tax Lease Revenue Bonds (Police Emergency Command Control Communications System), Series 1999 D (MICLA Series AI).

5.162.13 MICLA Special Tax Lease Revenue Bonds (Police Emergency Command Control Communications System), Series 2002F (MICLA Series AO).

5.162.22 MICLA Lease Revenue Commercial Paper Notes.

5.162.29 MICLA Lease Revenue Bonds, Series 2010-A (Capital Equipment), Series 2010-B (Capital Equipment) (Recovery Zone Economic Development Bonds-Taxable), Series 2010-C (Real Property) (Recovery Zone Economic Development Bonds-Taxable), and Refunding Series 2010-D (Real Property).

5.162.36 MICLA Lease Revenue Commercial Paper Notes (Los Angeles Convention Center), Tax-Exempt Series A-1.

5.162.37 MICLA Lease Revenue Commercial Paper Notes (Los Angeles Convention Center), Taxable Series B-1.

5.162.38 MICLA Taxable Lease Revenue Refunding Bonds, Series 2015-A (Los Angeles Convention Center).

• 5.162.39 MICLA 2016 Streetlights Financing.

• 5.162.40 MICLA 2016 Streetlights Financing.

• 5.162.41 MICLA Lease Revenue Bonds, Series 2016-A (Capital Equipment).

• 5.162.42 MICLA Lease Revenue Bonds, Series 2016-B (Real Property).

• 5.162.43 MICLA Lease Revenue Bonds, Series 2016-B (Real Property).

• 5.162.44 MICLA 2017 Streetlights Financing.

• 5.162.45 MICLA Lease Revenue Bonds, Series 2018-A (Capital Equipment).

• 5.162.46 MICLA Lease Revenue Bonds, Series 2018-B (Real Property).

• 5.162.47 MICLA Lease Revenue Bonds, Series 2019-A (Capital Equipment).

• 5.162.48 MICLA Lease Revenue Bonds, Series 2019-B (Real Property).

• 5.162.49 MICLA Lease Revenue Bonds, Series 2020-A (Capital Equipment).

• 5.162.50 MICLA 2019 Street Lighting Financing.

• 5.162.51 MICLA Lease Revenue Bonds, Series 2020-B (Real Property).

• 5.162.52 MICLA 2020 Streetlights Financing.

• 5.162.53 MICLA Lease Revenue Bonds, Series 2021-C (Capital Equipment and Real Property).

• 5.162.54 MICLA Lease Revenue Bonds, Series 2023-A (Capital Equipment and Real Property).

5.162.55 MICLA Lease Revenue Bonds, Series 2025 (Los Angeles Convention Center) Construction Fund.

5.162.56 MICLA Lease Revenue Bonds, Series 2025 (Los Angeles Convention Center) Accounting Fund.

5.162.57 MICLA Lease Revenue Bonds, Series 2026-A (Capital Equipment and Real Property) Accounting Fund.

(a) There is hereby created in the Treasury of the City of Los Angeles a special fund for a financing involving the Municipal Improvement Corporation of Los Angeles (the “MICLA”), which is named the “MICLA L Equipment Acquisition Fund” (the “MICLA L Fund”).

(b) The purposes of the MICLA L Fund are to receive the proceeds from the sale of the Certificates of Participation (Equipment Acquisition Program L) Evidencing the Proportionate Interests of the Owners Thereof in Certain Basic Lease Payments to be Made by The City of Los Angeles to the Municipal Improvement Corporation of Los Angeles (the “Certificates”), interest earnings received from the Certificates Trustee, insurance proceeds and condemnation proceeds, all to be held in trust for the certificate holders, and to pay from it all costs of acquiring equipment as authorized by the Council on behalf of MICLA (the “Program L”) and the costs of issuance of the Certificates, to disburse funds as authorized in the Trust Agreement for the Certificates and to pay rebates of arbitrage earnings as required by federal income tax laws. When Program L is completed, all money remaining in the MICLA L Fund not needed to pay rebates of arbitrage earnings shall be disbursed to the Certificates Trustee for payments of principal and interest on the Certificates.

(c) The MICLA L Fund shall retain all of its earnings.

(d) The MICLA L Fund shall be administered by the Department of General Services.

(e) 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. 167,359, Eff. 11-30-91.

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

SECTION HISTORY

Added by Ord. No. 170,625, Eff. 9-2-95.

Amended by: In Entirety, Ord. No. 170,762, Eff. 12-25-95; 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. 170,893, Eff. 3-7-96.

Amended by: In Entirety, Ord. No. 171,059, Eff. 6-20-96; 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. 170,889, Eff. 3-2-96.

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. 171,469, Eff. 2-10-97.

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. 171,730, Eff. 10-19-97.

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. 172,276, Eff. 12-10-98.

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. 172,324, Eff. 1-8-99.

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

Repealed by Ord. No. 178,876, Eff. 7-30-07.

SECTION HISTORY

Added by Ord. No. 172,324, Eff. 1-8-99.

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

Repealed by Ord. No. 178,876, Eff. 7-30-07.

There is hereby created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Special Tax Lease Revenue Bonds (Police Emergency Command Control Communications System), Series 1999 D (MICLA Series AI) Acquisition Fund” (the “Fund”), for the purpose of receiving and disbursing money from a Municipal Improvement Corporation of Los Angeles (the “MICLA”) financing named “Special Tax Lease Revenue Bonds (Police Emergency Command Control Communications System), Series 1999 D (MICLA Series AI)” (the “Bonds”), in order to pay costs of additional portions (the “1999 Components”) of the Police Emergency Command Control Communications System. The Fund shall be held by the City in trust for the benefit of the holders of the Bonds and applied as provided in the Indenture, as supplemented, for the Bonds. Any money remaining after completion of the 1999 Components shall be used in accordance with the Indenture, as supplemented, for the Bonds. All earnings on money held in the Fund shall be retained by the Fund. The Fund shall be administered by the Police Department. Pursuant to Charter Section 344 money in the Fund shall not revert to the City Reserve Fund.

SECTION HISTORY

Added by Ord. No. 172,535, Eff. 5-9-99.

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

SECTION HISTORY

Added by Ord. No. 172,846, Eff. 11-6-99.

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. 173,418, Eff. 8-28-00.

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

SECTION HISTORY

Added by Ord. No. 174,411, Eff. 2-25-02.

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

There is hereby created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Special Tax Lease Revenue Bonds (Police Emergency Command Control Communications System), Series 2002F (MICLA Series AO) Acquisition Fund” (the “Fund”), for the purpose of receiving and disbursing money from a Municipal Improvement Corporation of Los Angeles (the “MICLA”) financing named “Special Tax Lease Revenue Bonds (Police Emergency Command Control Communications System), Series 2002F (MICLA Series AO)” (the “Bonds”), in order to pay costs of additional portions (the “2002 Components”) of the Police Emergency Command Control Communications System. The Fund shall be held by the City in trust for the benefit of the holders of the Bonds and applied as provided in the Indenture, as supplemented, for the Bonds. Any money remaining after completion of the 2002 Components shall be used in accordance with the Indenture, as supplemented, for the Bonds. All earnings on money held in the Fund shall be retained by the Fund. The Fund shall be administered by the Police Department. Pursuant to Charter Section 344, money in the Fund shall not revert to the City Reserve Fund.

SECTION HISTORY

Added by Ord. No.174,414, Eff. 3-2-02.

SECTION HISTORY

Added by Ord. No. 174,438, Eff. 3-29-02.

Amended by: In Entirety, Ord. No. 174,550, Eff. 6-15-02.

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

SECTION HISTORY

Added by Ord. No. 174,441, Eff. 3-29-02.

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

SECTION HISTORY

Added by Ord. No. 174,823, Eff. 10-25-02.

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

SECTION HISTORY

Added by Ord. No. 174,823, Eff. 10-25-02.

Amended by: Para. (5), Ord. No. 177,034, Eff. 11-23-05.

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

SECTION HISTORY

Added by Ord. No. 175,188, Eff. 6-8-03.

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

SECTION HISTORY

Added by Ord. No. 175,875, Eff. 4-29-04.

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

SECTION HISTORY

Added by Ord. No. 175,875, Eff. 4-29-04.

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

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Commercial Paper Notes Acquisition Fund” (Fund), for the purpose of receiving and disbursing money from a Municipal Improvement Corporation of Los Angeles (MICLA) financing named “Lease Revenue Commercial Paper Notes” (Notes), to pay for acquisitions and improvements of real properties and equipments. All Fund earnings shall be retained by the Fund. The Fund shall be administered generally by the City Administrative Officer and administered as to specific expenditures by the General Managers of the City departments for their respective allocations of Commercial Paper Notes proceeds. Pursuant to Charter Section 344, money in the Fund shall not revert to the Reserve Fund of the City.

SECTION HISTORY

Added by Ord. No. 175,942, Eff. 6-3-04.

SECTION HISTORY

Added by Ord. No. 178,040, Eff. 12-14-06.

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

SECTION HISTORY

Added by Ord. No. 179,231, Eff. 11-13-07.

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

SECTION HISTORY

Added by Ord. No. 180,147, Eff. 9-27-08.

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

SECTION HISTORY

Added by Ord. No. 180,514, Eff. 3-9-09.

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

SECTION HISTORY

Added by Ord. No. 180,997, Eff. 1-4-10.

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

(a) There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2010-A through D Accounting Fund” (Accounting Fund), for the purpose of recording accounting transactions for the MICLA Lease Revenue Bonds, Series 2010-A (Capital Equipment), Series 2010-B (Capital Equipment) (Recovery Zone Economic Development Bonds-Taxable), Series 2010-C (Real Property) (Recovery Zone Economic Development Bonds- Taxable), and Refunding Series 2010-D (Real Property) (together, Bonds), to refinance costs associated with the acquisition of certain equipment, finance costs related to the acquisition of certain equipment and the acquisition and improvement of certain real properties, and refund certain Certificates of Participation previously executed and delivered by the City. The City Controller shall administer the Accounting Fund. All earnings of the Accounting Fund shall be retained in the Accounting Fund and credited to the bond issue generating the earnings, and are to be used for the purpose of the bond issue as provided in the Indentures for the respective bond issues.

(b) There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2010-B Acquisition Fund” (Acquisition Fund), for the purpose of receiving and expending money from the sale of MICLA Lease Revenue Bonds, Series 2010-B (Recovery Zone Economic Development Bonds-Taxable) (Series 2010-B). Money in the Acquisition Fund shall be used only to acquire equipment and no money shall be released from the Acquisition Fund except in accordance with the Series 2010-B Tax Certificate. All earnings by the Acquisition Fund shall be retained in the Acquisition Fund.

(c) There is created in the Treasury of the City of Los Angeles a special fund, named “MICLA Lease Revenue Bonds, Series 2010-C Construction Fund” (Construction Fund), for the purpose of receiving and expending money from the sale of MICLA Lease Revenue Bonds, Series 2010-C (Recovery Zone Economic Development Bonds-Taxable) (Series 2010-C). Money in the Construction Fund shall be used only to acquire, construct or improve real property, and no money shall be released from the Construction Fund except in accordance with the Series 2010-C Tax Certificate. All earnings by the Construction Fund shall be retained in the Construction Fund.

SECTION HISTORY

Added by Ord. No. 181,392, Eff. 12-13-10.

SECTION HISTORY

Added by Ord. No. 181,884, Eff. 11-3-11.

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

SECTION HISTORY

Added by Ord. No. 182,099, Eff. 5-3-12.

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

SECTION HISTORY

Added by Ord. No. 182,702, Eff. 10-9-13.

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

SECTION HISTORY

Added by Ord. No. 183,213, Eff. 10-12-14.

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

SECTION HISTORY

Added by Ord. No. 183,212, Eff. 10-12-14.

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

SECTION HISTORY

Added by Ord. No. 183,212, Eff. 10-12-14.

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

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Commercial Paper Notes (Los Angeles Convention Center), Tax-Exempt Series A-1 Accounting Fund” (MICLA Commercial Paper Series A-1 Accounting Fund), for the purpose of recording accounting transactions for the MICLA Lease Revenue Commercial Paper Notes (Los Angeles Convention Center), Tax-Exempt Series A-1 transaction to finance costs associated with the acquisition and improvement of real property for City use. The City Controller shall administer the MICLA Commercial Paper Series A-1 Accounting Fund. All earnings of the MICLA Commercial Paper Series A-1 Accounting Fund shall be retained in the MICLA Commercial Paper Series A-1 Accounting Fund to be used for the purposes permitted by the MICLA Lease Revenue Commercial Paper Notes (Los Angeles Convention Center) Series A-1 transaction, and the monies in the MICLA Commercial Paper Series A-1 Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.

SECTION HISTORY

Added by Ord. No. 183,924, Eff. 12-4-15.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Commercial Paper Notes (Los Angeles Convention Center) Taxable Series B-1 Accounting Fund” (MICLA Commercial Paper Taxable Series B-1 Accounting Fund), for the purpose of recording accounting transactions for the MICLA Lease Revenue Commercial Paper Notes (Los Angeles Convention Center) Taxable Series B-1 transaction to finance costs associated with the acquisition and improvement of real property for City use. The City Controller shall administer the MICLA Commercial Paper Taxable Series B-1 Accounting Fund. All earnings of the MICLA Commercial Paper Taxable Series B-1 Accounting Fund shall be retained in the MICLA Commercial Paper Taxable Series B-1 Accounting Fund to be used for the purposes permitted by the MICLA Lease Revenue Commercial Paper (Los Angeles Convention Center) Series B-1 Accounting Fund transaction, and the monies in the MICLA Commercial Paper Series B-1 Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.

SECTION HISTORY

Added by Ord. No. 183,924, Eff. 12-4-15.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Taxable Lease Revenue Refunding Bonds, Series 2015-A (Los Angeles Convention Center) Accounting Fund” (MICLA Series 2015-A Accounting Fund), for the purpose of recording accounting transactions for the MICLA Taxable Lease Revenue Refunding Bonds, Series 2015-A (Los Angeles Convention Center) transaction. The City Controller shall administer the MICLA Series 2015-A Accounting Fund. All earnings of the MICLA Series 2015-A Accounting Fund shall be retained in the MICLA Series 2015-A Accounting Fund to be used for the purposes permitted by the MICLA Taxable Lease Revenue Refunding Bonds, Series 2015-A (Los Angeles Convention Center) transaction, and the monies in the MICLA Series 2015-A Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.

SECTION HISTORY

Added by Ord. No. 183,922, Eff. 12-4-15; re-adopted by Ord. No. 184,798, Eff. 4-16-17.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA 2016 Streetlights Accounting Fund” for the purpose of recording accounting transactions for the funds received from, and to be only used for, the refunding component of the MICLA 2016 Streetlights Financing applied to refinance costs associated with the acquisition and improvement of certain streetlights with light-emitting diode (LED) and/or high voltage conversion and other related improvements. The City Controller shall administer the MICLA 2016 Streetlights Accounting Fund. All earnings of the MICLA 2016 Streetlights Accounting Fund shall be retained in the MICLA 2016 Streetlights Accounting Fund to be used for the purposes permitted by the MICLA 2016 Streetlights Financing transaction, and the monies in the MICLA 2016 Streetlights Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.

SECTION HISTORY

Added by Ord. No. 184,128, Eff. 3-4-16.

Renumbered from Sec. 5.162.38 to 5.162.39 by Ord. No. 184,798, Eff. 4-16-17.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA 2016 Streetlights Construction Fund” for the purpose of receiving and expending the new money received from the MICLA 2016 Streetlights Financing and which new money shall be used solely for the acquisition and installation of certain streetlights with light-emitting diode (LED) and/or high voltage conversion and related improvements. Money in the MICLA 2016 Streetlights Construction Fund shall be used only to finance costs associated with the acquisition and installation of such streetlights and related improvements referenced herein, and no money shall be released from the MICLA 2016 Streetlights Construction Fund except in accordance with the tax certificate for the MICLA 2016 Streetlights Financing. All earnings by the MICLA 2016 Streetlights Construction Fund shall be retained by the MICLA 2016 Streetlights Construction Fund to be used for the purposes permitted by the MICLA 2016 Streetlights Financing transaction and the related tax certificate.

SECTION HISTORY

Added by Ord. No. 184,128, Eff. 3-4-16.

Renumbered from Sec. 5.162.39 to 5.162.40 by Ord. No. 184,798, Eff. 4-16-17.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2016-A (Capital Equipment) Accounting Fund” (Series 2016-A Accounting Fund) for the purpose of recording accounting transactions for the MICLA Lease Revenue Bonds, Series 2016-A (Capital Equipment) transaction to retire certain maturities of commercial paper issued by MICLA and to refund certain lease revenue bonds issued by MICLA, the proceeds of which were used to finance the acquisition of certain items of equipment and vehicles of the City. The City Controller shall administer the Series 2016-A Accounting Fund. All earnings of the Series 2016-A Accounting Fund shall be retained in the Series 2016-A Accounting Fund to be used for the purposes permitted by the MICLA Lease Revenue Bonds, Series 2016-A (Capital Equipment) transaction, and the monies in the Series 2016-A Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.

SECTION HISTORY

Added by Ord. No. 184,181, Eff. 5-9-16.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2016-B (Real Property) Accounting Fund” (Series 2016-B Accounting Fund) for the purpose of recording accounting transactions for the MICLA Lease Revenue Bonds, Series 2016-B (Real Property) to retire certain maturities of commercial paper issued by MICLA and to refund certain lease revenue bonds issued by MICLA, the proceeds of which were used to finance the acquisition, construction and/or improvement of certain real property of the City. The City Controller shall administer the Series 2016-B Accounting Fund. All earnings of the Series 2016-B Accounting Fund shall be retained in the Series 2016-B Accounting Fund to be used for the purposes permitted by the MICLA Lease Revenue Bonds, Series 2016-B (Real Property) transaction, and the monies in the Series 2016-B Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.

SECTION HISTORY

Added by Ord. No. 184,181, Eff. 5-9-16.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2016-B (Real Property) Construction Fund” (Series 2016-B Construction Fund) for the purpose of receiving and expending a portion of the money received from the sale of the MICLA Lease Revenue Bonds, Series 2016-B (Real Property). Money in the Series 2016-B Construction Fund shall be used solely to finance and refinance the costs of the acquisition, construction and/or improvement of certain real property. No money shall be released from the Series 2016-B Construction Fund except as set forth below and in accordance with the tax certificate for the MICLA Lease Revenue Bonds, Series 2016-A (Capital Equipment) and MICLA Lease Revenue Bonds, Series 2016-B (Real Property). All earnings by the Series 2016-B Construction Fund shall be retained in the Series 2016-B Construction Fund to be used for the purposes permitted by the MICLA Lease Revenue Bonds, Series 2016-B (Real Property) transaction and the related tax certificate. Any money remaining in the Series 2016-B Construction Fund after financing and refinancing the acquisition, construction and/or improvement of the real property described herein shall be transferred to the debt service fund for the MICLA Lease Revenue Bonds, Series 2016-B (Real Property).

SECTION HISTORY

Added by Ord. No. 184,181, Eff. 5-9-16.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA 2017 Streetlights Construction Fund” for the purpose of receiving and expending the new money received from the MICLA 2017 Streetlights Financing and which new money shall be used solely for the acquisition and installation of new street lights with light-emitting diode (LED) and/or high voltage conversion and related improvements. Money in the MICLA 2017 Streetlights Construction Fund shall be used only to finance costs associated with the acquisition and installation of such streetlights and related improvements referenced herein, and no money shall be released from the MICLA 2017 Streetlights Construction Fund except in accordance with the tax certificate for the MICLA 2017 Streetlights Financing. All earnings by the MICLA 2017 Streetlights Construction Fund shall be retained by the MICLA 2017 Streetlights Construction Fund to be used for the purposes permitted by the MICLA 2017 Streetlights Financing transaction and the related tax certificate.

SECTION HISTORY

Added by Ord. No. 184,798, Eff. 4-16-17.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2018-A (Capital Equipment) Accounting Fund” (Series 2018-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 issued by MICLA, the proceeds of which were used to finance the acquisition of certain items of equipment of the City. The City Controller shall administer the Series 2018-A Accounting Fund. All earnings of the Series 2018-A Accounting Fund shall be retained in the Series 2018-A Accounting Fund to be used for the purposes permitted by the MICLA Lease Revenue Bonds, Series 2018-A (Capital Equipment) and Series 2018-B (Real Property) transaction, and the monies in the Series 2018-A Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.

SECTION HISTORY

Added by Ord. No. 185,335, Eff. 12-15-17.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2018-B (Real Property) Accounting Fund” (Series 2018-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 issued by MICLA and to refund certain lease revenue bonds issued by MICLA, the proceeds of which were used to finance or refinance the acquisition and improvement of certain real property of the City. The City Controller shall administer the Series 2018-B Accounting Fund. All earnings of the Series 2018-B Accounting Fund shall be retained in the Series 2018-B Accounting Fund to be used for the purposes permitted by the MICLA Lease Revenue Bonds, Series 2018-A (Capital Equipment) and Series 2018-B (Real Property) transaction, and the monies in the Series 2018-B Accounting Fund shall not revert to the Reserve Fund at the close of each fiscal year.

SECTION HISTORY

Added by Ord. No. 185,335, Eff. 12-15-17.

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.

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.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2025 (Los Angeles Convention Center) Construction Fund” (Series 2025 Construction Fund), for purpose of receiving, investing, and expending the proceeds from the Municipal Improvement Corporation of Los Angeles Lease Revenue Bonds, Series 2025-A (Los Angeles Convention Center) and Lease Revenue Bonds, Series 2025-B (Los Angeles Convention Center) (Federally Taxable) (Bonds). Money in the Series 2025 Construction Fund, including any earnings thereon, shall be released and used to finance and refinance the costs of the expansion and modernization of, and improvements to, the Los Angeles Convention Center (Project), including to make rebate payments to the United States government, as provided in the indenture for the Bonds (Indenture). All earnings on amounts held in the Series 2025 Construction Fund shall be retained in the Series 2025 Construction Fund and used in accordance with the Indenture. Any money remaining in the Series 2025 Construction Fund after completion of the Project shall be used in accordance with the Indenture. Money in the Series 2025 Construction Fund, if any, shall not be subject to reversion to the Reserve Fund.

SECTION HISTORY

Added by Ord. No. 188,746, Eff. 10-14-25.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2025 (Los Angeles Convention Center) Accounting Fund” (Series 2025 Accounting Fund), for the purpose of recording accounting transactions related to the portion of the proceeds received from the sale of the Municipal Improvement Corporation of Los Angeles Lease Revenue Bonds, Series 2025-A (Los Angeles Convention Center) and Lease Revenue Bonds, Series 2025-B (Los Angeles Convention Center) (Federally Taxable) (Bonds) that are used or to be used to retire certain maturities of commercial paper notes issued by the Municipal Improvement Corporation of Los Angeles to finance the costs of the expansion and modernization of, and improvements to, the Los Angeles Convention Center. The City Controller shall administer the Series 2025 Accounting Fund. Money in the Series 2025 Accounting Fund, if any, shall not be subject to reversion to the Reserve Fund.

SECTION HISTORY

Added by Ord. No. 188,746, Eff. 10-14-25.

There is created in the Treasury of the City of Los Angeles a special fund, named the “MICLA Lease Revenue Bonds, Series 2026-A (Capital Equipment and Real Property Accounting Fund” (Series 2026-A Accounting Fund), for the purpose of recording accounting transactions related to the proceeds received from the sale of the Municipal Improvement Corporation of Los Angeles Lease Revenue Bonds, Series 2026-A (Capital Equipment and Real Property) that are used or to be used to retire certain maturities of commercial paper notes issued by the Municipal Improvement Corporation of Los Angeles 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 2026-A Accounting Fund. Money in the Series 2026-A Accounting Fund, if any, shall not be subject to reversion to the Reserve Fund.

SECTION HISTORY

Added by Ord. No. 188,815, Eff. 2-6-26.