(a) Solid Waste Resources Special Revenue Fund.
(1) There is hereby created in the Treasury of the City of Los Angeles a special fund named the “Solid Waste Resources Special Revenue Fund” (hereinafter referred to in this Section 5.121.5(a) as the “Revenue Fund”) for the deposit of all revenues received from the collection of the Solid Waste Collection, Transfer, Recycling, Recovery of Waste Resources and Disposal Fee established in Section 66.41(a) of Article 6.1 of Chapter VI of the Los Angeles Municipal Code, as amended, and any other legally available income, rates, fees, charges, and other moneys which the City designates by ordinance or resolution for deposit in the Revenue Fund. Money in the Revenue Fund may be used for those activities and costs for which the Solid Waste Collection, Transfer, Recycling, Recovery of Waste Resources and Disposal Fee is authorized and any other purpose as may be approved by the Council. The Revenue Fund shall be administered by the Department of Public Works.
(2) All money in the Revenue Fund may be pledged to secure, and shall be set aside and used for, the payment of principal and interest, installment payments, lease payments and associated expenses as may be directed by Council resolutions related to financing those activities and costs for which the Solid Waste Collection, Transfer, Recycling, Recovery of Waste Resources and Disposal Fee is authorized and any other activities and costs relating to the City’s solid waste operations as may be approved by the Council.
(3) All earnings of the Revenue Fund shall remain in the Revenue Fund. Pursuant to Charter Section 344, money in the Revenue Fund shall not be subject to reversion to the Reserve Fund of the City.
(b) Revenue Certificates of Participation (1990 Solid Waste Collection Project) Sanitation Equipment Acquisition Fund.
(1) There is hereby created in the Treasury of the City of Los Angeles for the purpose of receiving money from the execution and delivery of the Revenue Certificates of Participation (1990 Solid Waste Collection Project) (the “1990 Certificates”) a special fund named the Revenue Certificates of Participation (1990 Solid Waste Collection Project) Sanitation Equipment Acquisition Fund (the “Acquisition Fund”). No expenditures may be made from the Acquisition Fund except for the payment of the costs of acquisition of equipment and other facilities required in the implementation of the 1990 Project portion of the City’s automated waste collection and recycling programs (the “1990 Project”) and the related costs of executing and delivering the 1990 Certificates. The Acquisition Fund shall be administered by the Department of Public Works. After the completion of the 1990 Project, any money remaining in the Acquisition Fund shall be disbursed in accordance with the Trust Agreement for the 1990 Certificates. All earnings by the Acquisition Fund shall be retained in that fund until expended for the purposes of the 1990 Project. Pursuant to Charter Section 344, money in the Acquisition Fund shall not be subject to reversion to the Reserve Fund of the City.
(c) [Repealed.]
(d) [Repealed.]
(e) [Repealed.]
(f) [Repealed.]
(g) [Repealed.]
(h) [Repealed.]
(i) [Repealed.]
(j) [Repealed.]
(k) [Repealed.]
(l) [Repealed.]
(m) Multi-Family Bulky Item Fee Special Revenue Fund.
(1) There is hereby created in the Treasury of the City of Los Angeles a special fund named the “Multi-Family Bulky Item Fee (BIF) Special Revenue Fund” (hereinafter referred to in this Section 5.121.5(m) as the “Revenue Fund”) for the deposit of all revenues received from the collection of the Multi- Family Bulky Item Fee (the “Multi-Family BIF”) established in Section 66.41(c) of Article 6.1 of Chapter VI of the Los Angeles Municipal Code, as amended, and any other legally available income, rates, fees, charges, and other moneys which the City designates by ordinance or resolution for deposit in the Revenue Fund. Money in the Revenue Fund may be used for those activities and costs for which the Multi-Family BIF is authorized and any other purpose as may be approved by the Council. The Revenue Fund shall be administered by the Department of Public Works.
(2) All money in the Revenue Fund may be pledged to secure, and shall be set aside and used for, the payment of principal and interest, installment payments, lease payments, and associated expenses as may be directed by Council resolutions, related to financing those activities and costs for which the Multi-Family BIF is authorized and any other activities and costs relating to the City’s solid waste operations as may be approved by the Council.
(3) All earnings of the Revenue Fund shall remain in the Revenue Fund. Pursuant to Charter Section 344, money in the Revenue Fund shall not be subject to reversion to the Reserve Fund of the City.
(n) [Repealed.]
(o) Solid Waste Resources Revenue Bonds, Series 2013-A Acquisition Fund. There is hereby created in the Treasury of the City of Los Angeles for the purpose of receiving and disbursing money from the sale and issuance of the City of Los Angeles, California Solid Waste Resources Revenue Bonds, Series 2013-A (Series 2013-A Bonds), a special fund named the Solid Waste Resources Revenue Bonds, Series 2013-A Acquisition Fund (Acquisition Fund). No expenditure may be made from the Acquisition Fund except for the payment of the costs of acquisition of equipment and vehicles, and the construction and acquisition of improvements to certain facilities, all as required to implement the Series 2013-A Bonds’ portion (Series 2013-A Project) of the City’s automated waste collection, disposal and recycling programs. The Acquisition Fund shall be administered by the Department of Public Works. After the completion of the Series 2013-A Project, any money remaining in the Acquisition Fund shall be disbursed in accordance with the Trust Agreement for the Series 2013-A Bonds. All earnings by the Acquisition Fund shall be retained by the Acquisition Fund. Pursuant to Charter Section 344, money in the Acquisition Fund shall not be subject to reversion to the Reserve Fund of the City.
(p) Solid Waste Resources Revenue Bonds, Series 2018-A Acquisition Fund. There is hereby created in the Treasury of the City of Los Angeles for the purposes of receiving and disbursing money from the sale and issuance of the City of Los Angeles, California Solid Waste Resources Revenue Bonds, Series 2018-A (Series 2018-A Bonds), a special fund named the “Solid Waste Resources Revenue Bonds, Series 2018-A Acquisition Fund” (Acquisition Fund). No expenditure may be made from the Acquisition Fund except for the payment of the costs of the acquisition of vehicles, the installation of certain equipment, and the construction and renovation of certain real property improvements, all as required to implement the Series 2018-A Bonds’ portion (Series 2018-A Project) of the City’s automated waste collection, disposal and recycling programs. The Acquisition Fund shall be administered by the Department of Public Works. Any moneys remaining in the Acquisition Fund on the earlier of the date the City determines that the Series 2018-A Project has been completed, or such earlier or later date as the City may determine, consistent with the Tax Certificate, shall be disbursed in accordance with the Trust Agreement for the Series 2018-A Bonds. All earnings by the Acquisition Fund shall be retained by the Acquisition Fund. Pursuant to Charter Section 344
, money in the Acquisition Fund shall not be subject to reversion to the Reserve Fund of the City.
(q) Solid Waste Resources Revenue Bonds, Series 2023-A Acquisition Fund. There is hereby created in the Treasury of the City of Los Angeles for the purposes of receiving and disbursing money from the sale and issuance of the City of Los Angeles Solid Waste Resources Revenue Bonds, Series 2023-A (Series 2023-A Bonds), a special fund named the “Solid Waste Resources Revenue Bonds, Series 2023-A Acquisition Fund” (Acquisition Fund). No expenditure may be made from the Acquisition Fund except for the payment of costs for the acquisition of (i) equipment, including vehicles and other items, and the installation thereof, if any, for the City’s solid waste operations, and (ii) facilities, including the construction and renovation of real property and other capital improvements for the City’s solid waste operations (Series 2023-A Project). The Acquisition Fund shall be administered by the Department of Public Works. Any moneys remaining in the Acquisition Fund on the date the City determines that the Series 2023-A Project has been completed, or such earlier or later date as the City may determine, consistent with the tax certificate executed in connection with the issuance of the Series 2023-A Bonds, shall be disbursed in accordance with the Supplemental Trust Agreement for the Series 2023-A Bonds. All earnings of the Acquisition Fund shall be retained in the Acquisition Fund. Pursuant to Charter Section 344, money in the Acquisition Fund shall not be subject to reversion to the Reserve Fund of the City.
SECTION HISTORY
Added by Ord. No. 166,308, Eff. 11-15-90.
Amended by: Subsec. (c) added, Ord. No. 170,390, Eff 3-19-95; Subsec. (d) added, Ord. No. 170,761, Eff. 12-25-95; Subsec. (e) added, Ord. No. 171,481, Eff. 2-21-97; Subsec. (f) added, Ord. No. 171,765, Eff. 12-7-97; Subsec. (g) added, Ord. No. 172,326, Eff. 1-8-99; Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00; Subsec. (h) added, Ord. No. 174,223, Eff. 10-11-01; Subsec. (i) added, Ord. No. 175,168, Eff. 4-20-03; Subsec. (j) added, Ord. No. 175,653, Eff. 12-4-03; Subsec. (k) added, Ord. No. 176,730, Eff. 6-16-05; Subsec. (l) added, Ord. No. 177,852, Eff. 8-28-06; Article Title, Section Title, and Subsec. (a) amended, Ord. No. 177,927, Eff. 11-12-06; Subsec. (m) added, Ord. No. 179,070, Eff. 9-16-07; Subsec. (n) added, Ord. No. 180,897, Eff. 10-15-09; Subsec. (o) added, Ord. No. 182,499, Eff. 4-15-13; Subsec. (p) added, Ord. No. 185,639, Eff. 7-6-18; Subsecs. (c) through (l) and (n) repealed, Ord. No. 187,475, Eff. 6-9-22; Subsecs. (a) and (m) amended and Subsec. (q) added, Ord. No. 187,902, Eff. 6-26-23.