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Until otherwise provided by ordinance, the City shall continue to use, for purposes of municipal taxation, the county system of assessment and tax collection. Should the City resume the work of assessment and tax collection, the procedure shall be fixed by ordinance and, so far as applicable, shall be substantially the same as provided at the time by law for county taxes in the County of Los Angeles.
Not earlier than the month of June, but not later than the last day of the month in which the statement of property valuations within the City as required by law is received, the Council shall adopt an ordinance levying upon the assessed valuation of the property in the City, in accordance with the provisions of law, a rate of taxation upon each one hundred dollars ($100) of valuation, which, with the amounts, if any, transferred from the Reserve Fund in or for the current fiscal year subsequent to the adoption of the annual budget and the amount estimated to be received from fines, licenses and other sources of revenue, will be sufficient to raise the amount appropriated in the annual budget.
If the Council fails to levy a rate of taxation at the time and in the manner provided by the Charter, the Controller shall add to the budget the amount required to meet maturing portions of principal and interest on the bonded indebtedness of the City and of special districts in the City, and any special taxes lawfully imposed, and shall calculate a rate of taxation as provided in Section 331, not exceeding the limit provided by law. The Controller shall give public notice of the rate of taxation by publication in a newspaper of general circulation in the City or by other means provided by ordinance, and the tax rate calculated by the Controller shall be the rate of taxation of the City. The Controller is hereby vested with all necessary legislative power to carry out the provisions of this section.
(a) It shall not be lawful to transfer money from one fund to another or to use the money in one fund in payment of demands upon another fund, except in the case of the Unappropriated Balance and the Reserve Fund, or except as specifically provided in the Charter.
(b) Notwithstanding subsection (a), the Treasurer and the Controller, when authorized and directed by the Council by resolution, shall make temporary transfers, in accordance with procedures established by law, from the funds of the City as may be necessary to provide funds for meeting obligations of the City. The amount of any temporary transfers shall not at any one time exceed 85% of the ad valorem property taxes accruing to the City, shall not be made after the last Monday in April of the current fiscal year, and shall be replaced from the taxes accruing to the City before any other obligation of the City is met from those taxes.
Transfers may be made from the Reserve Fund after adoption of the annual budget to meet in whole or in part any appropriated item of the annual budget, or may be made to the General Fund or the Unappropriated Balance. These transfers and any appropriations from the Unappropriated Balance may be made after adoption of the budget, as follows:
(a) upon recommendation of the Mayor, approved by a majority vote of the Council;
(b) upon a majority vote of the Council, subject to the approval of the Mayor, or passage by the Council over the Mayor’s veto by a two-thirds vote.
If any order making a transfer or appropriation is not returned to the City Clerk by the Mayor for presentation to the Council, with objections in writing, within ten days after it has been presented, it shall become effective and be as valid as if the Mayor had approved and signed it.
Funds appropriated in the general City budget or thereafter by the Council for expenditure by any officer, board or department may be transferred to the Reserve Fund or the Unappropriated Balance, or appropriated for the same or other purposes by other authorized officers, boards or departments and the budget or other spending authority amended accordingly:
(a) for transfers not in excess of an amount established by ordinance, on the approval of the Mayor, provided that the Mayor shall give notice of such transfer at the time it is made to the City Clerk who shall notify the President of the Council, the Controller and the City Administrative Officer of the transfer;
(b) for transfers in excess of an amount established by ordinance, on the approval of the Mayor and a majority vote of the Council; or
(c) for transfers in excess of an amount established by ordinance, on the majority vote of the Council, subject to the approval of the Mayor, or passage by the Council over the Mayor’s veto by a two-thirds vote.
If any order making a transfer is not returned to the City Clerk by the Mayor, for presentation to the Council, with objections in writing, within ten days after it has been presented, it shall become effective and be as valid as if the Mayor had approved and signed it.
SECTION HISTORY
Amended by: Subsec. (a), Charter Amendment II, approved November 5, 2024, effective January 8, 2025.
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