Bond 2012
Under California law, the Local Transportation Authority is permitted to issue bonds on behalf of a Local Agency that is payable from the Measure D Sales Tax Revenues that are allocable to such Local Agency. In May 2012, the Cities of Brawley, Calexico, Calipatria, Imperial and the County of Imperial identified certain street and highway projects that needed to be undertaken and requested that the Authority issue a series of bonds on its respective behalf of each Participating Local Agency that shall be payable solely from the portion of the Measure D Sales Tax Revenues allocable to that Participating Local Agency. Below is a summary of the revenues issued to each Participating Local Agency.
Total Sales Tax Revenue Bonds $53,975,000
$8,155,000 Series 2012A (City of Brawley)
$15,410,000 Series 2012B (City of Calexico)
$2,305,000 Series 2012C (City of Calipatria)
$6,170,000 Series 2012D (City of Imperial)
$21,935,000 Series 2012E (County of Imperial)