11 results for “municipal debt” · proposal
11 results for “municipal debt” · proposal
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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This ordinance, adopted February 14, 2024, authorizes the City of Dallas, Texas to issue General Obligation Refunding Bonds. The ordinance establishes the legal framework for the bonds, including definitions, security provisions backed by a tax levy for payment, and general terms governing bond issuance, denomination, maturity, interest rates, registration, transfer, and redemption. The document addresses administrative mechanisms such as book-entry-only systems, successor securities depositories, and payment procedures through Cede & Co., with provisions for optional and mandatory sinking fund redemption before maturity. No specific bond amount, interest rate, maturity date, or tax rate is stated in the provided excerpt.
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