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§ 11.28.8 — Investment of Proceeds of Revenue Bonds

Los Angeles Municipal Code (2026 Rev. 9, current through legislation effective June 30, 2026) · Los Angeles Administrative Code § 11.28.8

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Sec. 11.28.8. Investment of Proceeds of Revenue Bonds.

The proceeds received from the issuance and sale of Revenue Bonds may be held by either the Treasurer of the City or by a trustee or fiscal agent designated in the applicable financing documents and may be invested until they are expended in such obligations as are set forth in or permitted by the applicable financing documents for such Revenue Bonds provided that any such obligations shall be obligations eligible for the investment of City funds under the laws of the State of California. SECTION HISTORY Added by Ord. No. 172,353, Eff. 1-30-99. Amended by: Ord. No. 173,234, Eff. 6-19-00, Oper. 7-1-00.