Page 367 - FY 2020-21 Blue Book Volume II

Capital Finance Administration Fund

16. MICLA Lease Revenue Bonds, Refunding Series 2015-A (Staples Arena, 1998-A)

The proceeds of this issuance were used to refund the Los Angeles Convention Center Taxable Lease
Revenue Bonds, Series 1998 (Staples Arena), which were used to fund a portion of the City’s contribution
towards the development of the Staples Center. Lease payments are paid from the Staples Center Trust Fund
(Schedule 31).

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 21,820,000
Principal Outstanding, July 1, 2020: 9,835,000
Final Payment: 2022-23

2020-21 MICLA 2015-A (Refunding of Staples 1998-A) Lease Payment: $ 3,458,930

17. MICLA Street Lighting 2016 (Lease Obligations)

The proceeds from this issuance were used to refinance Bureau of Street Lighting outstanding loans and
provide future funding for the conversion of existing streetlights to energy efficient light emitting diode (LED)
lighting and other improvements to the City’s street lighting system. This issuance was completed through a
direct loan with a bank. Lease payments are paid from the Street Lighting Maintenance Assessment Fund
(Schedule 19).

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 26,368,865
Principal Outstanding, July 1, 2020: 13,698,217
Final Payment: 2023-24

20120-21 MICLA Street lighting 2016 Lease Payment: $ 3,587,880

18. MICLA Lease Revenue Bonds, Refunding Series 2016-A (Capital Equipment)

The proceeds of this issuance were used to refinance the MICLA Commercial Paper notes borrowed to
acquire various capital equipment items and refund MICLA 2008-A bonds, previously used to purchase capital
equipment.

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 125,235,000
Principal Outstanding, July 1, 2020: 91,530,000
Final Payment: 2026-27

2020-21 MICLA 2016-A (Capital Equipment) Lease Payment $ 14,709,550

19. MICLA Lease Revenue Bonds, Refunding Series 2016-B (Figueroa Plaza)

The proceeds of this issuance were in large part used to refund MICLA 2007-B1 bonds and MICLA 2007-B2
bonds. A lesser part of the proceeds were used to refinance MICLA Commercial Paper Notes borrowed for
capital improvements to various City facilities This issuance also provided financing for new capital
improvements to various City facilities, including the Figueroa Plaza buildings. Lease payments are partially
derived from the Building and Safety Building Permit Fund (Schedule 40) and Cannabis Regulation Special
Revenue Fund (Schedule 33).

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 194,365,000
Principal Outstanding, July 1, 2020: 169,140,000
Final Payment: 2039-40

2020-21 MICLA 2016-B (Figueroa Plaza) Lease Payment: $ 12,306,072

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