(a) There is hereby created and established within the Treasury of the City of Los Angeles a special fund to be known as the “Arts and Cultural Facilities and Services Trust Fund” (Fund).
The Fund shall be administered by the General Manager of the Cultural Affairs Department. Approval of the Mayor and the City Council shall be required for all disbursements from the Fund.
All interest and earnings of the Fund shall accrue to the Fund.
Deposits shall be made to the Fund in accordance with the requirements of this article or other requirements adopted by the City Council by ordinance. In the event any money deposited into the Fund is subject to limitations or restrictions as to its use or expenditure, the deposit shall be placed into a separate account within the Fund, shall not be commingled with other monies in the Fund, and no part of such deposits shall be disbursed in violation of such restrictions.
(b) Expenditures from the Fund shall be exclusively for:
(1) acquisition or placement of publicly accessible works of art;
(2) acquisition or construction of arts and cultural facilities;
(3) provision of arts and cultural services;
(4) restoration or preservation of existing works of art;
(5) the City’s cost of administering the City’s Public Works Improvements Arts Program (Program); and provided that the artwork, facility or service has received the prior approval of the Board of Cultural Affairs Commissioners; or
(6) support of programs and operations of the Cultural Affairs Department, including overhead costs.
(c) Notwithstanding the limitations contained in Subsection (b) above, unrestricted appropriations from the City’s General Fund to the Cultural Affairs Department’s budget, Council Civic Fund, may be used for expenditures incurred in direct support of arts and cultural events, such as expenses for catering and equipment rentals.
(d) For the year commencing with July 1, 1989, and each fiscal year thereafter, an amount from the City General Fund which is equal to the amount which would be derived during that fiscal year from a transient occupancy tax imposed at the rate of one percent (1%) shall be placed in the Fund, and the City’s budget for that fiscal year shall so reflect.
(e) Within three (3) months after the close of each fiscal year, the Cultural Affairs Department shall provide the City Council with a report identifying all income and expenditures to and from the Fund during the prior fiscal year.
SECTION HISTORY
Added by Ord. No. 164,244, Eff. 1-15-89.
Amended by: Subsec. (b), Ord. No. 176,151, Eff. 9-20-04; Subsecs. (c) and (d) redesignated (d) and (e) respectively, new Subsec. (c) added, Ord. No. 180,904, Eff. 11-24-09.