Page 370 - FY 2020-21 Blue Book Volume II

Capital Finance Administration Fund

29. MICLA Lease Revenue Bonds, Series 2019-B (Real Property)

The proceeds of this issuance were used to refinance the MICLA Commercial Paper notes borrowed for the
capital improvements to various City facilities and for the refunding of the MICLA Lease Revenue Bonds,
Series 2009-D (Recovery Zone Economic Development Bonds), which achieved net present value savings of
$1.96 million.

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 102,750,000
Principal Outstanding, July 1, 2020: 101,160,000
Final Payment: 2038-39

2020-21 MICLA 2019-B (Real Property) Lease Payment $ 8,295,000

30. MICLA Street Lighting 2020 (Lease Obligations)

The proceeds from this issuance will be used to fund the final conversions of existing streetlights to energy
efficient light emitting diode (LED) lighting and other improvements to the City’s street lighting system. This
issuance will be completed through a direct loan with a bank in fiscal year 2020-21. Lease payments will be
paid from the Street Lighting Maintenance Assessment Fund (Schedule 19) commencing in fiscal year 2021-
22.

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 8,900,000
Principal Outstanding, July 1, 2020: --
Final Payment: 2030-31

2020-21 MICLA Street Lighting 2020 Lease Payment: $ --

31. Debt Service on Economic and Workforce Development Department (EWDD) Projects

This item reflects annual debt service payments on three projects: Chesterfield Square (C.F. 00-1579-S2),
Lawry’s California Center (C.F. 98-1953), and Plaza Pacoima (C.F. 08-1811). Administration of these projects
remains with EWDD.

2020-21 Debt Service on EWDD Projects: $ 1,273,774

32. Refinancing of Parking Revenue Bonds (Lease Revenue Notes)

In November 2013, MICLA Commercial Paper notes were issued to redeem the 1999-A and 2003-A Parking
Revenue Bonds. Lease payments are paid from the Special Parking Revenue Fund (Schedule 11).

2020-21 Commercial Paper Lease Payment: $ 4,182,552

33. Police Vehicles 2017 Lease Purchase

The proceeds of this lease purchase were used to purchase 180 black and white vehicles, 152 undercover
vehicles, and 130 emergency vehicles that had met or exceeded the extended replacement criteria for the
Police Department.

Lessor: JP Morgan Chase Bank, N.A
Amount of Principal: $ 21,110,000
Principal Outstanding, July 1, 2020: 10,489,049
Final Payment: 2022-23

2020-21 Police Vehicle Lease Payment $ 3,587,884

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