(a) There is hereby created and established within the Treasury of the City of Los Angeles a special trust fund to be know as “The Homeless Shelter and Assistance Trust Fund” hereinafter referred to as the “Fund.”
(b) The Fund shall be used to provide assistance for the homeless in the City of Los Angeles to find shelter and other related services or materials in the interest of public health and welfare.
(c) Any gift, contribution or bequest accepted by the City Council to further the purposes of the Fund, or money appropriated or received from any other source for said purpose shall be deposited into the Fund. All gifts, contributions or bequests of $500.00 or more shall be submitted to the City Council for acceptance or rejection. All gifts, contributions or bequests of less than $500.00 may be accepted or rejected by the City Clerk for deposit into the Fund.
(d) The Controller shall establish a separate account for each accepted gift, contribution or bequest which includes any special requirements, qualifications or conditions for use. All accepted gifts, contributions or bequests which do not include any special requirements, qualifications or conditions for use shall be placed in a General Account within the Fund established by the Controller for this purpose.
(e) The Fund shall be administered by the City Clerk and any moneys expended therefrom shall be first approved and authorized by the Mayor and the President of the Council.
SECTION HISTORY
Chapter 19, Sec. 5.329, added by Ord. No. 161,925, Eff. 2-27-87.