20, 2012, MICLA
will be authorized to issue callable tax-exempt series A-2 and callable taxable series B-2 CP notes during a Call Exercise Period, which is a period commencing on the 35th day prior to the maturity date.
We have been scouring the budget for money for this and it will be cash and MICLA
The cost to the general fund for those MICLA lease purchases has increased from $20 million in 1993 to about $72 million, records show.
Comrie said future MICLA debt and any other non-voter debt would not be incurred as a burden all at once, and would simply give the city more flexibility.
The notes are payable from the city's lease rental payments to MICLA
, from any source of available general fund monies, subject to abatement.
1 billion in outstanding MICLA
refunding certificates of participation (Refunding Program AY), series 2005, and lease revenue bonds, series 2006-A, 2007-A, 2007-B1, 2007-B2, 2008-A, 2008-B, 2009-A, and 2009-B to 'A+' from 'AA-';
The bonds are secured by the City of Los Angeles' lease rental payments to MICLA for the use of equipment and properties.
9 million in outstanding MICLA certificates of participation (Refunding Program AY), series 2005, and lease revenue bonds, series 2006-A, 2007-A, 2007-B1, 2007-B2, 2008-A, and 2008-B at 'AA-';
1 million in MICLA
Certificates of Participation, Refunding Program AY and lease revenue bonds series 2006-A at 'AA-';
rating is based on the strong lease structure security and the city's overall credit quality.