MICLA Lease Revenue Bonds, Series 2025 (Los Angeles Convention Center) Construction Fund.
Los Angeles Administrative Code § 5.162.55
in effectSec. 5.162.55. MICLA Lease Revenue Bonds, Series 2025 (Los Angeles Convention Center) Construction Fund.
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.
Source: City of Los Angeles, Charter and Codes (American Legal Publishing, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/los_angeles/latest/laac/0-0-0-128804Fetched: 10/24/2026