The Public Lighting Authority of Detroit (PLA) is a state-created authority that is replacing all street lights in the City of Detroit with brighter, more reliable, more energy efficient lights. It is a completely separate legal entity from the City of Detroit. The PLA's mission is to improve, modernize and maintain the street lighting system in Detroit. It's goal is to complete relighting all neighborhoods in Detroit by the end of 2015 and all major thoroughfares by the end of 2016. The PLA is funded by earmarking $12.5 million per year from the city’s utility tax. This dedicated revenue stream, and its independent status, enabled the PLA to sell $185 million in bonds to fund the relighting of the city. The original goal was to sell $160 million worth of bonds, but a very favorable interest rate of 4.53 percent enabled the authority to sell $185 million in bonds, providing funds for an additional 10,000 lights, meaning a total of 65,000 lights will be installed. The Authority is overseen by a five-member board that is appointed by the Mayor and the City Council. All five board members are residents of Detroit.