A. Pursuant to Cal. Gov’t Code §§ 50075.1 and 50075.3, the specific purposes of the Parcel Tax, the requirement that the parcel tax proceeds be applied to such purposes, and the establishment of a special fund for the parcel tax proceeds are set forth in § 5.06.035. So long as the parcel tax is collected hereunder, commencing no later than January 1, 2019, and annually thereafter, the CFO is hereby authorized and directed to cause to be prepared and filed with the City Council a report that shows the amount of parcel tax collected and expended and the status of any projects funded with the parcel tax proceeds. For purposes of this Section, the CFO is authorized to retain such consultants, accountants or agents as may be necessary or convenient to accomplish the foregoing.
B. On an annual basis, the City's Finance Advisory Committee shall review the revenues and expenditures of the parcel tax proceeds consistent with the City Council Adopted Budget, and submit a report of its findings to the City Council.
(Ord. 2016-013 § 1 (part))