Los Angeles Municipal Code § 5.82 General Obligation Bonds, Election 1989 (Branch Library Facilities, Police…

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 Repealed by Ord.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 Repealed by Ord.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 Repealed by Ord.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