(a) There is created and established in the Treasury of the City of Los Angeles a special fund to be known as the “Off-Site Sign Periodic Inspection Fee Trust Fund,” (the “Fund”).
(b) The purpose of the Fund shall be for the receipt, retention and disbursement of all money collected as an Off-Site Sign Periodic Inspection Fee and any other money appropriated or given to the Fund for use in carrying out the purposes of the Off-Site Sign Periodic Inspection Fee program.
(c) Monies collected pursuant to Subsection (b) above, shall be deposited into the Fund. The monies in this Fund shall be used to offset the costs of administering the inspection program, including but not limited to inspection, issuance of inspection certificates, and maintenance of an off-site sign structure database. The Fund shall be administered and expenditures authorized by the General Manager of the Department of Building and Safety or the designee of the General Manager ("General Manager"), in accordance with established City practice. There shall be no expenditure, transfer or other form of disbursement of monies from the Fund, except for purposes directly related to the administration and enforcement of Section 91.6205.18 of the Los Angeles Municipal Code.
(d) All interest and other earnings attributable to monies in the Fund shall be credited to the Fund and shall be devoted to the purposes of the Fund.
(e) The General Manager shall report to the City Council no later than June 30th of each year regarding and identifying all revenues and expenditures of the Fund, as well as the purposes for which the expenditures were made and a recommendation for the amount of the fee for the next fiscal year.
(f) At the close of any fiscal year, surplus money remaining in the fund shall continue to remain in the Fund. Any surplus money shall be considered and credited in determining the amount of the fee for the next fiscal year and shall not revert to the Reserve Fund.
Added by Ord. No. 174,736, Eff. 9-13-02.