Los Angeles Municipal Code Art. 5 Wastewater System Revenue Bond F

5.168.1 Creation of the Funds.

5.168.2 Deposits into Wastewater System Revenue Bond Funds.

There are hereby created within the Treasury of the City of Los Angeles separate special funds required or permitted to be established in connection with the financing of the City’s sewer system through the issuance of Wastewater System Revenue Bonds. Said funds hereby created are the:

(a) Debt Service Funds.

(1) [Repealed;]

(2) [Repealed;]

(3) [Repealed;]

(4) Wastewater System Revenue Bonds Debt Service Fund, Series 1990-A, initially called the “Wastewater System Revenue Bonds Debt Service Fund, Series 1990" (the “1990 Series A Debt Service Fund”);

(5) Wastewater System Revenue Bonds Debt Service Fund, Series 1990-B (the “1990 Series B Debt Service Fund”);

(6) [Repealed;]

(7) [Repealed;]

(8) [Repealed;]

(9) Wastewater System Revenue Bonds Debt Service Fund, Series 1992-A, (the “1992 Series A Debt Service Fund”);

(10) [Repealed;]

(11) Wastewater System Revenue Bonds Debt Service Fund, Series 1993-A (the “1993 Series A Debt Service Fund”);

(12) [Repealed;]

(13) [Repealed;]

(14) [Repealed;]

(15) [Repealed;]

(16) [Repealed;]

(17) [Repealed;]

(18) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 1998-C (the “1998 Series C Debt Service Fund”);

(19) [Repealed;]

(20) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2001-A, Series 2001-B, Series 2001-C and Series 2001-D (the “2001 Series A, B, C and D Debt Service Fund”);

(21) Wastewater System Revenue Bonds, Refunding Series 2002-A (the “2002 Series A Debt Service Fund”);

(22) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2003-A (the “Subordinate 2003 Series A Debt Service Fund”);

(23) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2003-A (the “2003 Series A Debt Service Fund”);

(24) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2003-B (the “Subordinate 2003 Series B Debt Service Fund”);

(25) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2003-B (the “2003 Series B Debt Service Fund”);

(26) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2004-A (the “2004 Series A Debt Service Fund”);

(27) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2005-A (the “2005 Series A Debt Service Fund”);

(28) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Variable Rate Refunding Series 2006-A, Series 2006-B-1, Series 2006-B-2, Series 2006-C and Series 2006-D (the “Subordinate 2006 Series A, B, C and D Debt Service Fund”);

(29) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Variable Rate Refunding Series 2008-A, Series 2008-B, Series 2008-C, Series 2008-D, Series 2008-E, Series 2008-F-1, Series 2008-F-2, Series 2008-G and Series 2008-H (the “Subordinate 2008 Series A, B, C, D, E, F, G and H Debt Service Fund”);

(30) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2009-A (the “2009 Series A Debt Service Fund”);

(31) Wastewater System Revenue Bonds Debt Service Fund, Series 2010-A (Build America Bonds) (the “2010 Series A Debt Service Fund”);

(32) Wastewater System Revenue Bonds Debt Service Fund, Series 2010-B (Recovery Zone Economic Development Bonds) (the “2010 Series B Debt Service Fund”);

(33) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Series 2010-A (the “Subordinate 2010 Series A Debt Service Fund”);

(34) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2012-A (the “2012 Series A Debt Service Fund”);

(35) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2012-B (the “2012 Series B Debt Service Fund”);

(36) Wastewater System Revenue Bonds Debt Service Fund, Series 2012-C (the “2012 Series C Debt Service Fund”);

(37) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2012-A (the “Subordinate 2012 Series A Debt Service Fund”);

(38) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2012-B (the “Subordinate 2012 Series B Debt Service Fund”);

(39) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2012-C (the “Subordinate 2012 Series C Debt Service Fund”);

(40) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Variable Rate Refunding Series 2012-D (the “Subordinate 2012 Series D Debt Service Fund”);

(41) Wastewater System Revenue Bonds Debt Service Fund, Series 2013-A (the “2013 Series A Debt Service Fund”);

(42) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2013-B (the “2013 Series B Debt Service Fund”);

(43) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2013-A (the “Subordinate 2013 Series A Debt Service Fund”);

(44) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Series 2013-B (the “Subordinate 2013 Series B Debt Service Fund”);

(45) Wastewater System Revenue Bonds Debt Service Fund, Series 2015-A (the “2015 Series A Debt Service Fund”);

(46) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2015-B and Series 2015-D (the “2015 Series B and Series 2015-D Debt Service Fund”);

(47) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2015-C, and accounts therein (the “2015 Series C Debt Service Fund”);

(48) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Series 2015-A (the “Subordinate 2015 Series A Debt Service Fund”);

(49) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Series 2017-A (the “Subordinate 2017 Series A Debt Service Fund”);

(50) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2017-B (the “Subordinate 2017 Series B Debt Service Fund”);

(51) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2017-C (Taxable) (the “Subordinate 2017 Series C Debt Service Fund”);

(52) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Series 2018-A (the “Subordinate 2018-A Debt Service Fund”);

(53) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2018-B (the “Subordinate 2018-B Debt Service Fund”);

(54) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Variable Rate Refunding Series 2018-C (the “Subordinate 2018-C Debt Service Fund”);

(55) Wastewater System Subordinate Revenue Bond Debt Service Fund, Series 2021 (WIFIA) (the “Subordinate 2021 WIFIA Bond Debt Service Fund”);

(56) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Series 2022-A (Green Bonds) (the “Subordinate 2022-A Debt Service Fund”);

(57) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Series 2022-B (Federally Taxable) (the “Subordinate 2022-B Debt Service Fund”);

(58) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2022-C (the “Subordinate 2022-C Debt Service Fund”);

(59) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Series 2025-A (the “Subordinate 2025-A Debt Service Fund”);

(60) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Series 2025-B (Federally Taxable) (the “Subordinate 2025-B Debt Service Fund”);

(61) Wastewater System Subordinate Revenue Bonds Debt Service Fund, Refunding Series 2025-C (the “Subordinate 2025-C Debt Service Fund”);

(62) Wastewater System Revenue Bonds Debt Service Fund, Refunding Series 2025-A (the “2025-A Debt Service Fund”);

The above Debt Service Funds (not including the Debt Service funds designated for Subordinate Revenue Bonds), collectively, shall constitute the Wastewater System Revenue Bonds Debt Service Fund described in Sections 5.02 and 5.04 of the City Wastewater System Revenue Bonds General Resolution adopted by the Council on November 10, 1987 (hereinafter referred to as the “Wastewater System General Resolution”), and, for purposes of the Wastewater System General Resolution, shall be treated as if they were one fund and shall provide security for all bonds issued under the Wastewater System General Resolution as provided in Section 2.01 thereof. The above Debt Service Funds designated for Subordinate Revenue Bonds, collectively, shall constitute the Wastewater System Subordinate Revenue Bonds Debt Service Fund described in Section 5.04 of the City’s Wastewater System Revenue Bonds Subordinate General Resolution adopted by the Council on March 26, 1991 (hereinafter referred to as the “Wastewater System Subordinate General Resolution”) and, for purposes of the Wastewater System Subordinate General Resolution, shall be treated as if they were one fund and shall provide security for all Subordinate Bonds issued under the Wastewater System Subordinate General Resolution as provided in Section 2.01 thereof.

(b) Debt Service Reserve Funds. Wastewater System Revenue Bonds Debt Service Reserve Fund (Debt Service Reserve Fund), which shall constitute the Wastewater System Revenue Bonds Debt Service Reserve Fund described in Sections 5.01 and 5.05 of the Wastewater System Revenue Bonds General Resolution adopted by the Council on November 10, 1987, and which shall provide security for all senior lien Bonds issued under the Wastewater System General Resolution as provided in Section 2.01 of the Resolution.

(c) Emergency Fund.

(1) Wastewater System Revenue Bonds Emergency Fund (the “Emergency Fund”).

(d) Construction Funds.

(1) Wastewater System Revenue Bonds Construction Fund, Series 1987 (the “1987 Construction Fund”);

(2) Wastewater System Revenue Bonds Construction Fund, Series 1988 (the “1988 Construction Fund”);

(3) Wastewater System Revenue Bonds Construction Fund, Series 1989 (the “1989 Construction Fund”);

(4) Wastewater System Revenue Bonds Construction Fund, Series 1990-A, initially called the “Wastewater System Revenue Bonds Construction Fund, Series 1990" (the “1990 Series A Construction Fund”);

(5) Wastewater System Revenue Bonds Construction Fund, Series 1990-B (the “1990 Series B Construction Fund”);

(6) Wastewater System Revenue Bonds Construction Fund, Series 1991-A (the “1991 Series A Construction Fund”);

(7) Wastewater System Revenue Bonds Construction Fund, Series 1991-B and C (the “1991 Series B and C Construction Fund”);

(8) Wastewater System Revenue Bonds Construction Fund, Series 1991-D (the “1991 Series D Construction Fund”);

(9) Wastewater System Revenue Bonds Construction Fund, Series 1992-A (the “1992 Series A Construction Fund”);

(10) Wastewater System Revenue Bonds Construction Fund, Series 1992-B (the “1992 Series B Construction Fund”);

(11) Wastewater System Revenue Bonds Construction Fund, Series 1993-A (the “1993 Series A Construction Fund”);

(12) Wastewater System Revenue Bonds Construction Fund, Series 1993-B and C (the “1993 Series B and C Construction Fund”);

(13) Wastewater System Revenue Bonds, Construction Fund, Series 1993-D (the “1993 Series D Construction Fund”);

(14) Wastewater System Commercial Paper ‘A’ Construction Fund (the “‘A’ CP Construction Fund”);

(15) Wastewater System Commercial Paper ‘B’ Construction Fund (the “‘B’ CP Construction Fund”);

(16) Wastewater System Revenue Bonds, Construction Fund, Series 1994-A (the “1994 Series A Construction Fund”);

(17) Wastewater System Revenue Bonds, Construction Fund, Refunding Series 1996-A (the “1996 Series A Construction Fund”);

(18) Wastewater System Revenue Bonds, Construction Fund, Refunding Series 1997-A (the “1997 Series A Construction Fund”);

(19) Wastewater System Revenue Bonds, Construction Fund, Series 1998-A and B (the “1998 Series A and B Construction Fund”);

(20) [Repealed;]

(21) [Repealed;]

(22) Wastewater System Commercial Paper “C” Construction Fund (the “‘C’ CP Construction Fund”);

(23) [Reserved;]

(24) Wastewater System Revenue Bonds Construction Fund, Series 2010-B (the “2010 Series B Construction Fund”);

(25) Wastewater System Revenue Bonds Construction Fund, Series 2012-C (the “2012 Series C Construction Fund”);

(26) Wastewater System Subordinate Revenue Bonds Construction Fund, Series 2012-D (the “Subordinate 2012 Series D Construction Fund”);

(27) Wastewater System Revenue Bonds Construction Fund, Series 2013-A (the “2013 Series A Construction Fund”);

(28) Wastewater System Subordinate Revenue Bonds Construction Fund, Series 2013-B (the “Subordinate 2013 Series B Construction Fund”);

(29) Wastewater System Revenue Bonds Construction Fund, Series 2015-A (Green Bonds) (the “2015 Series A (Green Bonds) Construction Fund”);

(30) Wastewater System Subordinate Revenue Bonds Construction Fund, Series 2017-A (Green Bonds) (the “Subordinate 2017 Series A (Green Bonds) Construction Fund”);

(31) Wastewater System Subordinate Revenue Bonds Construction Fund, Series 2018-A (Green Bonds) (the “Subordinate 2018-A (Green Bonds) Construction Fund”);

(32) Wastewater System Subordinate Revenue Bond, Series 2021 (WIFIA) Accounting Fund (the “Subordinate 2021 WIFIA Bond Accounting Fund”) for the purpose of recording accounting transactions for the Series 2021 WIFIA Bond financing, which Series 2021 WIFIA Bond is issued for the purpose of financing and/or refinancing the D.C. Tillman Advanced Water Purification Facility Project. The City Controller shall administer the Subordinate 2021 WIFIA Bond Accounting Fund. Monies in the Subordinate 2021 WIFIA Bond Accounting Fund, if any, shall not revert to the Reserve Fund at the close of each fiscal year;

(33) Accounting Fund for Prior Wastewater System Commercial Paper Revenue Note Issuances (the “Accounting Fund for Prior CP Issuances”) for the purpose of transferring previous accounting transactions related to the retirement of Wastewater System Commercial Paper Revenue Notes with the proceeds of various Wastewater System Subordinate Refunding Revenue Bonds, which Commercial Paper Revenue Notes were used to finance and/or refinance the construction, improvement and expansion of the wastewater collection and treatment systems of the City. The City Controller shall administer the Accounting Fund for Prior CP Issuances. Monies in the Accounting Fund for Prior CP Issuances, if any, shall not revert to the Reserve Fund at the close of each fiscal year;

(34) Wastewater System Subordinate Revenue Bond, Series 2022-A (Green Bonds) Accounting Fund (the “Subordinate 2022-A Bond Accounting Fund”) for the purpose of recording accounting transactions related to the Series 2022-A Bonds, which Series 2022-A Bonds are used to retire certain maturities of Wastewater System Commercial Paper Revenue Notes, the proceeds of such Wastewater System Commercial Paper Revenue Notes were used to finance and/or refinance the construction, improvement and expansion of the wastewater collection and treatment systems of the City. The City Controller shall administer the Subordinate 2022-A Bond Accounting Fund. Monies in the Subordinate 2022-A Bond Accounting Fund, if any, shall not revert to the Reserve Fund at the close of each fiscal year;

(35) Wastewater System Subordinate Revenue Bond, Series 2022-B (Federally Taxable) Accounting Fund (the “Subordinate 2022-B Bond Accounting Fund”) for the purpose of recording accounting transactions related to the Series 2022-B Bonds, which Series 2022-B Bonds are used to retire certain maturities of Wastewater System Commercial Paper Revenue Notes issued on a taxable basis, the proceeds of such Wastewater System Commercial Paper Revenue Notes were used to finance and/or refinance the construction, improvement and expansion of the wastewater collection and treatment systems of the City and certain related costs. The City Controller shall administer the Subordinate 2022-B Bond Accounting Fund. Monies in the Subordinate 2022-B Bond Accounting Fund, if any, shall not revert to the Reserve Fund at the close of each fiscal year;

(36) Wastewater System Subordinate Revenue Bond Construction Fund, Series 2021 (WIFIA) (the “Subordinate 2021 WIFIA Bond Construction Fund”).

(37) Wastewater System Subordinate Revenue Bond, Series 2025-A Accounting Fund (the “Subordinate 2025-A Bond Accounting Fund”) for the purpose of recording accounting transactions related to the Series 2025-A Bonds, which Series 2025-A Bonds are used to retire certain outstanding Wastewater System Commercial Paper Revenue Notes, the proceeds of such Wastewater System Commercial Paper Revenue Notes were used to finance and/or refinance the construction, improvement and expansion of the wastewater collection and treatment systems of the City. The City Controller shall administer the Subordinate 2025-A Bond Accounting Fund. Monies in the Subordinate 2025-A Bond Accounting Fund, if any, shall not revert to the Reserve Fund at the close of each fiscal year;

(38) Wastewater System Subordinate Revenue Bond, Series 2025-B (Federally Taxable) Accounting Fund (the “Subordinate 2025-B Bond Accounting Fund”) for the purpose of recording accounting transactions related to the Series 2025-B Bonds, which Series 2025-B Bonds are used to retire certain outstanding Wastewater System Commercial Paper Revenue Notes, the proceeds of such Wastewater System Commercial Paper Revenue Notes were used to finance and/or refinance the construction, improvement and expansion of the wastewater collection and treatment systems of the City and other costs related thereto. The City Controller shall administer the Subordinate 2025-B Bond Accounting Fund. Monies in the Subordinate 2025-B Bond Accounting Fund, if any, shall not revert to the Reserve Fund at the close of each fiscal year;

(e) Rebate Funds.

(1) Wastewater System Revenue Bonds Rebate Fund, Series 1987 (the “1987 Rebate Fund”);

(2) Wastewater System Revenue Bonds Rebate Fund, Series 1988 (the “1988 Rebate Fund”);

(3) Wastewater System Revenue Bonds Rebate Fund, Series 1989 (the “1989 Rebate Fund”);

(4) Wastewater System Revenue Bonds Rebate Fund, Series 1990-A, initially called the “Wastewater System Revenue Bonds Rebate Fund, Series 1990" (the “1990 Series A Rebate Fund”);

(5) Wastewater System Revenue Bonds Rebate Fund, Series 1990-B (the “1990 Series B Rebate Fund”);

(6) Wastewater System Revenue Bonds Rebate Fund, Series 1991-A (the “1991 Series A Rebate Fund”);

(7) Wastewater System Revenue Bonds Rebate Fund, Series 1991-B and C (the “1991 Series B and C Rebate Fund”);

(8) [Repealed;]

(9) [Repealed;]

(10) [Repealed;]

(11) [Repealed;]

(12) [Repealed;]

(13) Wastewater System Revenue Bonds Rebate Fund, Series 1993-D (the “1993 Series D Rebate Fund”); and

(14) Wastewater System Commercial Paper “A”, “B” and “C” Rebate Fund (the “CP Rebate Fund”);

(15) [Repealed;]

(16) [Repealed;]

(17) [Repealed;]

(18) [Repealed;]

(19) [Repealed;]

(20) [Repealed;]

(21) [Repealed;]

(22) Wastewater System Revenue Bonds, Refunding Series 2002-A (the “2002 Series A Rebate Fund”);

(23) Wastewater System Subordinate Revenue Bonds Rebate Fund, Refunding Series 2003-A (the “Subordinate 2003 Series A Rebate Fund”);

(24) Wastewater System Revenue Bonds Rebate Fund, Refunding Series 2003-A (the “2003 Series A Rebate Fund”);

(25) Wastewater System Subordinate Revenue Bonds Rebate Fund, Refunding Series 2003-B (the “Subordinate 2003 Series B Rebate Fund”);

(26) Wastewater System Revenue Bonds Rebate Fund, Refunding Series 2003-B (the “2003 Series B Rebate Fund”);

(27) Wastewater System Revenue Bonds Rebate Fund, Refunding Series 2004-A (the “2004 Series A Rebate Fund”);

(28) Wastewater System Revenue Bonds Rebate Fund, Refunding Series 2005-A (the “2005 Series A Rebate Fund”);

(29) Wastewater System Subordinate Revenue Bonds Rebate Fund, Variable Rate Refunding Series 2006-A, Series 2006-B-1, Series 2006-B-2, Series 2006-C and Series 2006-D (the Subordinate 2006 Series A, B, C and D Rebate Fund);

(30) Wastewater System Subordinate Revenue Bonds Rebate Fund, Variable Rate Refunding Series 2008-A, Series 2008-B, Series 2008-C, Series 2008-D, Series 2008-E, Series 2008-F-1, Series 2008-F-2, Series 2008-G and Series 2008-H (the “Subordinate 2008 Series A, B, C, D, E, F, G and H Rebate Fund”);

(31) Wastewater System Revenue Bonds Rebate Fund, Refunding Series 2009-A (the “2009 Series A Rebate Fund”);

(32) Wastewater System Senior Revenue Bonds Rebate Fund Series 2010-A (the “2010 Build America Bonds Rebate Fund”);

(33) Wastewater System Senior Revenue Bonds Rebate Fund, Series 2010-B (the “2010 Recovery Zone Economic Development Bonds Rebate Fund”);

(34) Wastewater System Subordinate Revenue Bonds Rebate Fund, Series 2010-A (the “2010-A Subordinate Rebate Fund”);

(35) Wastewater System Revenue Bonds Rebate Fund, Refunding Series 2012-A (the “2012-A Rebate Fund”);

(36) Wastewater System Revenue Bonds Rebate Fund, Refunding Series 2012-B (the “2012-B Bonds Rebate Fund”);

(37) Wastewater System Revenue Bonds Rebate Fund, Series 2012-C (the “2012-C Rebate Fund”);

(38) Wastewater System Subordinate Revenue Bonds Rebate Fund, Refunding Series 2012-A (the “2012-A Subordinate Rebate Fund”);

(39) Wastewater System Subordinate Revenue Bonds Rebate Fund, Refunding Series 2012-B (the “2012-B Subordinate Rebate Fund”);

(40) Wastewater System Subordinate Revenue Bonds Rebate Fund, Refunding Series 2012-C (the “2012-C Subordinate Rebate Fund”);

(41) Wastewater System Subordinate Revenue Bonds Rebate Fund, Variable Rate Refunding Series 2012-D (the “2012-D Subordinate Rebate Fund”);

(42) Wastewater System Revenue Bonds Rebate Fund, Series 2013-A (the “2013-A Rebate Fund”);

(43) Wastewater System Revenue Bonds Rebate Fund, Refunding Series 2013-B (the “2013-B Bonds Rebate Fund”);

(44) Wastewater System Subordinate Revenue Bonds Rebate Fund, Refunding Series 2013-A (the “2013-A Subordinate Rebate Fund”);

(45) Wastewater System Subordinate Revenue Bonds Rebate Fund, Series 2013-B (the “2013-B Subordinate Rebate Fund”);

(46) Wastewater System Revenue Bonds Rebate Fund, Series 2015-A and Refunding Series B (the “2015-A and 2015-B Rebate Fund”);

(47) Wastewater System Revenue Bonds Rebate Fund, Refunding Series 2015-C, Refunding Series 2015-D and Subordinate Refunding Series 2015-A (the “2015-C, 2015-D and Subordinate 2015-A Rebate Fund”);

(48) Wastewater System Subordinate Revenue Bonds Rebate Fund, Series 2017-A (the “Subordinate 2017-A Rebate Fund”);

(49) Wastewater System Subordinate Revenue Bonds Rebate Fund, Refunding Series 2017-B (the “Subordinate 2017-B Rebate Fund”);

(50) Wastewater System Subordinate Revenue Bonds Rebate Fund, Series 2018-A (the “Subordinate 2018-A Rebate Fund”);

(51) Wastewater System Subordinate Revenue Bonds Rebate Fund, Refunding Series 2018-B (the “Subordinate 2018-B Rebate Fund”);

(52) Wastewater System Subordinate Revenue Bonds Rebate Fund, Variable Rate Refunding Series 2018-C (the “Subordinate 2018-C Rebate Fund”);

(f) Debt Service Reserve Fund Releases Tracking Fund. Wastewater System Debt Service Reserve Fund Releases Tracking Fund (the “DSRF Releases Tracking Fund”) for the purpose of depositing amounts released from the Debt Service Reserve Fund in connection with the issuance of the Bonds to facilitate compliance with certain federal tax law requirements applicable to the Debt Service Reserve Fund releases for the Wastewater System revenue bond program. The Bureau of Sanitation shall administer the DSRF Releases Tracking Fund. Monies in the DSRF Releases Tracking Fund, if any, shall not revert to the Reserve Fund at the close of each fiscal year.

(g) Reimbursement Tracking Fund. Wastewater System Reimbursement Tracking Fund (the “Reimbursement Tracking Fund”) for the purpose of depositing reimbursements received by the Bureau of Sanitation from various sources related to the Wastewater System to facilitate compliance with certain federal tax requirements applicable to replacement proceeds for the Wastewater System revenue bond program. The Bureau of Sanitation shall administer the Reimbursement Tracking Fund. Monies in the reimbursement Tracking Fund, if any, shall not revert to the Reserve Fund at the close of each fiscal year.

Money shall be deposited into the funds created in this section, held and disbursed and the earnings thereon dealt with as provided in Section 5.168.2 of this Code and (except for the “A” CP Construction Fund, “B” CP Construction Fund, “C” Construction Fund, and the CP Rebate Fund) in the Wastewater System General Resolution and the supplements thereto. Moneys shall be deposited into the “A” CP Construction Fund, “B” CP Construction Fund, “C” Construction Fund and the CP Rebate Fund, held in such funds and disbursed and the earnings thereon dealt with as provided in Section 5.168.2 of this Code and the City’s Wastewater System Subordinate Revenue Bonds General Resolution adopted by the Council in March, 1991 (the “Subordinate Wastewater General Resolution”) and supplements thereto.

Moneys in the funds created in Section 5.168.1 shall not, such funds being “bond funds” pursuant to Charter Section 344, be subject to transfer to the Reserve Fund.

SECTION HISTORY

Added by Ord No. 162,866, Eff.11-22-87.

Amended by: In Entirety, Ord. No. 164,461, Eff. 3-20-89; In Entirety, Ord. No. 164,830, Eff. 6-10-89; In Entirety, Ord. No. 165,485, Eff. 2-1-90; Ord. No.165,924, Eff. 6-4-90; Ord. No. 166,651, Eff. 1-31-91; Ord. No. 166,847. Eff. 4-1-91; Ord. No. 167,055, Eff. 6-25-91; In Entirety, Ord. No. 167,446, Eff. 12-12-91; In Entirety, Ord. No. 167,941, Eff. 5-22-92; In Entirety, Ord. No. 168,028, Eff. 6-24-92; In Entirety, Ord. No. 168,710, Eff. 4-13-93; In Entirety, Ord. No. 168,845, Eff. 6-29-93; In Entirety, Ord. No. 169,125, Eff. 11-8-93; Subsecs. (a), (b), (d), and (e), Ord. No. 169,887, Eff. 6-22-94; Subsecs. (a)(15), (b)(15), (d)(18) and (e)(16), Ord. No. 170,905, Eff. 2-16-96; Subsecs. (a)(16), (b)(16), (d)(19), and (e)(17) added, Ord. No. 171,736, Eff. 9-22-97; Subsecs. (a)(17), (b)(17), (d)(20) and (e)(18) added, Ord. No. 171,931, Eff. 3-4-98; Subsecs. (a)(18), (b)(18), (d)(21) and (e)(19) added, Ord. No. 172,236, Eff. 10-16-98; Subsecs. (a)(19), (b)(19), (d)(22), and (e)(20) added, Ord. No. 172,456, Eff. 2-17-99; Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00; Subsec. (e)(21) added, Ord. No. 174,300, Eff. 11-6-01; Subsec. (e)(22) added, Ord. No. 174,484, Eff. 4-1-02; Subsecs. (a)(20) and (a)(21) added, Ord. No. 174,712, Eff. 8-24-02; Subsecs. (a)(22), (a)(23), (b)(20), (b)(21), (e)(23) and (e)(24) added, Ord. No. 175,065, Eff. 1-24-03; Subsecs. (a)(24), (a)(25), (b)(22), (b)(23), (e)(25), and (e)(26) added, Ord. No. 175,219, Eff. 5-20-03; Subsecs. (a)(26), (b)(24), and (e)(27) added, Ord. No. 176, 055, Eff. 6-24-04; Subsecs. (a)(27), (b)(25), and (e)(28) added, Ord. No. 177,165, Eff. 12-9-05; Subsecs. (a)(28), (a)(29), (e)(29), and (e)(30) added, Ord. No. 180,055, Eff. 7-25-08; Subsec. (b), Ord. No. 180,056, Eff. 8-25-08; Subsecs. (a)(30) and (e)(31) added, Ord. No. 180,578, Eff. 3-11-09; Subsecs. (a)(31), (a)(32), (a)(33), (d)(25), (e)(32), (e)(33) and (e)(34) added, Ord. No. 181,354, Eff. 10-20-10; Subsec. (d)(23) added, Subsec. (e)(14) and the second-to-last Para. amended, Ord. No. 181,371, Eff. 10-29-10; Subsecs. (a)(31), (a)(32), (a)(33), (d)(25), (e)(32), (e)(33) and (e)(34) amended, Ord. No. 181,478, Eff. 12-21-10; Subsecs. (a)(34), (a)(35), (a)(36), (a)(37), (a)(38), (a)(39), (a)(40), (d)(26), (d)(27), (e)(35), (e)(36), (e)(37), (e)(38), (e)(39), (e)(40) and (e)(41) added and Para. following Subsec. (a)(40) amended, Ord. No. 182,094, Eff. 3-30-12; Subsecs (a)(40) and (e)(41) amended, Ord. No. 182,348, Eff. 12-20-12; Subsecs. (a)(41), (a)(42), (a)(43), (a)(44), (d)(28), (d)(29), (e)(42), (e)(43), (e)(44), and (e)(45) added, Ord. No. 182,530, Eff. 5-10-13; Subsecs. (a)(45), (a)(46), (a)(47), (a)(48), (d)(30), (e)(46), and (e)(47) added, Ord. No. 183,570, Eff. 5-17-15; Subsecs. (a)(49), (a)(50), (a)(51), (d)(31), (e)(48), and (e)(49) added, Ord. No. 184,872, Eff. 4-25-17; Subsec. (d)(1) deleted, Subsecs. (d)(2) through (d)(31) renumbered as (d)(1) through (d)(30), and Subsecs. (a)(52), (a)(53), (a)(54), (d)(31), (e)(50), (e)(51), and (e)(52) added, Ord. No. 185,800, Eff. 10-26-18; Subsecs. (a)(55) and (d)(32) added, Ord. No. 187,188, Eff. 9-17-21; Subsecs. (a)(56), (a)(57), (a)(58), (d)(33), (d)(34), and (d)(35) added, Ord. No. 187,421, Eff. 3-10-22; Subsecs. (a)(1) - (a)(3), (a)(6) - (a)(8), (a)(10), (a)(12) - (a)(17), (a)(19), (d)(20), (d)(21), (e)(8) - (e)(12), and (e)(15) - (e)(21) repealed, Ord. No. 187,475, Eff. 6-9-22; Subsec. (d)(36) added, Ord. No. 188,367, Eff. 9-27-24; Subsecs. (a)(59), (a)(60), (a)(61), (a)(62), (d)(37), (d)(38), (f), and (g) added, Ord. No. 188,580, Eff. 5-16-25.

In accordance with instructions received from the Director of the Bureau of Accounting, Department of Public Works, and concurred by the Controller, the Treasurer shall, on or before the twenty-fifth day of each month commencing on November 25, 1987, withdraw from the Sewer Construction and Maintenance Fund, and, if needed, the Sewer Operation and Maintenance Fund and the Sewer Capital Fund (these three funds hereafter referred to as the “Sewer Revenue Funds”) as directed by the Director of the Bureau of Accounting, Department of Public Works, with the concurrence of the Controller, an amount sufficient to make the required monthly deposit to the Debt Service Funds and Debt Service Reserve Funds and, thereafter, if funds remain in the Sewer Revenue Funds, to make any required deposit to the Emergency Fund. Such deposits shall be in such amounts as provided for in the Wastewater System General Resolutions and the supplements thereto. So long as the conditions set forth in the Wastewater System General Resolution and the Subordinate Wastewater General Resolution are met, the Treasurer, in accordance with instructions received from the Director of the Bureau of Accounting, Department of Public Works, and concurred by the Controller, shall withdraw money from the Sewer Revenue Funds in such amounts and at such times as shall be needed to pay debt service or make deposits to be used to pay debt service on or fund reserves for the subordinate wastewater system revenue bonds and notes as provided in the Subordinate Wastewater General Resolution and the supplements thereto.

The Construction Funds shall be funded in accordance with the Wastewater System General Resolution and the Subordinate Wastewater General Resolution, and the supplements thereto, with proceeds of the corresponding wastewater system revenue bonds and subordinate wastewater system revenue bonds, respectively.

The “A” CP Construction Fund and the “B” CP Construction Fund shall be funded in accordance with the Wastewater Subordinate General Resolution and supplements thereto with proceeds of the sale of new issue Wastewater System Commercial Paper Revenue Notes.

The Rebate Funds will be funded as required, in accordance with instructions provided by the City Administrative Officer and concurred by the Controller, with funds withdrawn from the Sewer Revenue Funds or, if required and permitted by the Wastewater System General Resolution, with funds withdrawn from the Debt Service Reserve Fund, or with any funds permitted to be deposited to a rebate fund, including the construction fund for the related series of bonds.

The Emergency Fund will be funded at the time the Wastewater System Revenue Bonds Series 1987 are issued with $5,000,000, or such other amount as shall from time to time be recommended as provided in the Wastewater System General Resolution, which shall be withdrawn from the Sewer Construction and Maintenance Fund for such purpose.

The Debt Service Reserve Funds shall be funded, respectively, at the time the corresponding wastewater system revenue bonds, respectively, are issued in accordance with the supplemental resolutions to the Wastewater System General Resolution, in an amount sufficient, when the amounts in such funds are combined, to equal Maximum Annual Debt Service as defined in the Wastewater System General Resolution which amounts shall be derived primarily from the proceeds of the bonds and a portion of which may be withdrawn from the Sewer Revenue Funds for such purposes. At the time of issuance of any wastewater system revenue refunding bonds, amounts shall be transferred from any or all of those Debt Service Reserve Funds described above which were created in connection with the refunded bonds to the Debt Service Reserve Fund created for the refunding bonds or to any escrow account or fund created in connection with the refunding, in such amounts, if any, as shall be directed by the Treasurer.

SECTION HISTORY

Added by Ord. No. 162,866, Eff. 11-22-87.

Amended by: In Entirety, Ord. No. 163,800, Eff. 8-12-88; In Entirety , Ord. No. 164,461, Eff. 3-20-89; In Entirety, Ord. No. 164,830, Eff. 6-10-89; In Entirety, Ord. No. 165,485, Eff. 2-1-90; Ord No. 165,924, Eff. 6-4-90; Ord. No. 166,651, Eff. 1-31-91; Ord No. 166,847 , Eff. 4-1-91; Ord. No. 167,055, Eff. 6-25-91; In Entirety, Ord. No. 167,446, Eff. 12-12-91. In Entirety, Ord. No. 167,941, Eff. 5-22-92; In Entirety, Ord. No. 168,028, Eff. 6-24-92. In Entirety, Ord. No. 167,941, Eff. 5-22-92; In Entirety, Ord. No. 168,028, Eff. 6-24-92; In Entirety, Ord. No. 168,710, Eff. 4-13-93; In Entirety, Ord. No. 168,845, Eff. 6-29-93, In Entirety, Ord. No. 169,125, Eff. 11-8-93; In Entirety, Ord. No. 185,800, Eff. 10-26-18.