Page 363 - FY 2020-21 Blue Book Volume II

Capital Finance Administration Fund

Lease Payments for Outstanding and Proposed Lease Revenue Obligations Detail

1. Pershing Square Refunding, Program AS (Certificates of Participation, 2002)

The proceeds of this issuance were used to refund the 1992 Pershing Square Certificates of Participation,
which financed the construction, design, and installation of improvements at Pershing Square. Funding for
lease payments and City administrative costs is provided through Mello-Roos assessments on various
properties in the vicinity of Pershing Square. Lease payments are paid from the Pershing Square Special
Trust Fund (Schedule 29).

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 7,655,000
Principal Outstanding, July 1, 2020: 720,000
Final Payment: 2021-22

2020-21 MICLA AS (Pershing Square Refunding, 2002) Lease Payment: $ 523,500

2. MICLA Lease Revenue Bonds, Series 2009-C (Capital Equipment)

The proceeds of this issuance were used to refinance the MICLA Commercial Paper notes borrowed to
acquire various capital equipment items (e.g. fleet replacement).

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 40,095,000
Principal Outstanding, July 1, 2020: --
Final Payment: 2019-20

2020-21 MICLA 2009-C (Capital Equipment) Lease Payment: $ --

3. MICLA Lease Revenue Bonds, Series 2009-D (Recovery Zone Economic Development Bonds)

The proceeds of this issuance were used for capital improvements to several City facilities, including the 7
th
Street Sweeper Shop Annex Building and the Figueroa Plaza office complex. MICLA designated these taxable
bonds as Recovery Zone Economic Development Bonds, which allowed the City to receive from the federal
government direct credit subsidy payments equal to 45 percent of the interest payable to bondholders. The
bonds were refunded by the MICLA Lease Revenue Bonds, Series 2019-B (Real Property), and achieved net
present value savings of $1.96 million.

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 21,300,000
Principal Outstanding, July 1, 2020: --
Final Payment: 2019-20

2020-21 MICLA 2009-D (Recovery Zone Econ. Dev. Bonds) Lease Payment: $ --

4. MICLA Lease Revenue Bonds, Series 2010-A (Capital Equipment)

The proceeds of this issuance were used to refinance the MICLA Commercial Paper notes borrowed to
acquire various capital equipment items (e.g. communication equipment, fleet, and trucks).

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 30,355,000
Principal Outstanding, July 1, 2020: 3,720,000
Final Payment: 2020-21

2020-21 MICLA 2010-A (Capital Equipment) Lease Payment: $ 3,806,275

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