Page 371 - FY 2020-21 Blue Book Volume II
P. 371
Capital Finance Administration Fund
34. Police and Fire Radios 2017 Lease Purchase
The proceeds of this lease purchase financing were used to purchase 11,500 Police handheld radios, 4,500
Police vehicle radios, 3,500 Fire handheld radios, and related equipment for the Police and Fire Departments.
Lessor: Motorola Solutions, Inc.
Amount of Principal: $ 61,208,432
Principal Outstanding, July 1, 2020: 44,382,208
Final Payment: 2024-25
2020-21 Police and Fire Radios Lease Payment $ 9,214,286
35. MICLA Commercial Paper Program (Lease Revenue Notes)
In 2004, the City established a commercial paper (CP) program authorizing MICLA to issue up to $200 million
in lease revenue CP notes to finance and refinance capital equipment, the acquisition and improvement of
real property, and other financing needs of the City. The size of the MICLA CP program has periodically been
increased over time, most recently increasing from $395 million to $425 million. The lease payment amount
pays for interest expenses and all fees related to the CP Program.
Lessor: Municipal Improvement Corporation of Los Angeles
2020-21 MICLA Commercial Paper Program Lease Payment: $ 10,000,000
36. Refunding of Commercial Paper
Approximately every year, outstanding MICLA commercial paper notes are refinanced into long-term bonds
when the maximum capacity is approached. This amount represents the estimated debt service payments to
be paid on future obligations that is expected to be issued in 2020-21.
Lessor: Municipal Improvement Corporation of Los Angeles
2020-21 Commercial Paper Program Refinancing Lease Payment: $ 6,000,000
37. Los Angeles Convention Center Commercial (LACC) Paper Program (Lease Revenue Notes)
The LACC MICLA Commercial Paper Program was established to effectively manage capital expenditures
and subsequent bond issuances. This amount is an estimate of the lease payment and related fees to be paid
in 2020-21.
2020-21 LACC Commercial Paper Lease Payment: $ 2,000,000
38. General Administration
Funds are provided for arbitrage calculations, municipal advisory services, tax filings, and related
administrative expenses.
Amount required: $ 350,000
39. Trustee Fees
Funds are provided for trustee services required pursuant to the terms of each Bond Indenture.
Amount required: $ 55,000
2020-21 PROPOSED LEASE FINANCING ADMINISTRATION PROGRAM $ 240,004,935
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