Page 309 - FY 2021-22 Blue Book Volume 2

Capital Finance Administration Fund

15. 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, 2021: 10,369,235
Final Payment: 2023-24

2021-22 MICLA Street lighting 2016 Lease Payment: $ 3,587,880

16. 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, 2021: 80,880,000
Final Payment: 2026-27

2021-22 MICLA 2016-A (Capital Equipment) Lease Payment $ 14,711,400

17. 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, 2021: 162,960,000
Final Payment: 2039-40

2021-22 MICLA 2016-B (Figueroa Plaza) Lease Payment: $ 13,736,550

18. MICLA Lease Revenue Bonds, Refunding Series 2016-B (Motor Transport Division Property)

The proceeds of this issuance attributable to the Motor Transport Division (MTD) Property were used to refund
the MICLA 2008-B bonds, which were used to acquire the MTD land, and MICLA 2009-E bonds. Lease
payments are partially derived from the Special Parking Revenue Fund (Schedule 11).

Lessor: Municipal Improvement Corporation of Los Angeles
Amount of Principal: $ 82,060,000
Principal Outstanding, July 1, 2021: 68,785,000
Final Payment: 2039-40

2021-22 MICLA 2016-B (MTD Building) Lease Payment: $ 5,671,625

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