1_8_0_U_5_6_ - LA City Clerk - City of Los Angeles
ProposalAI Summary
Ordinance No. 1_8_0_U_5_6_ amends Section 5.168.1(b) of the Los Angeles Administrative Code to consolidate all existing debt service reserve funds into a single Wastewater System Revenue Bonds Debt Service Reserve Fund, aligning it with the fund described in Sections 5.02 and 5.05 of the Wastewater System General Resolution adopted by Council on November 10, 1987. The consolidated fund will provide security for all senior lien bonds issued under the Wastewater System General Resolution. The ordinance was passed by the City Council on July 11, 2008, and approved by the City Attorney on July 21, 2008, with publication required within ten days at designated public locations.
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