(a) There is hereby created and established in the Treasury of the City of Los Angeles a special trust fund to be known as “Project Restore Trust Fund,” hereinafter referred to in this chapter as the “Fund.”
(b) The Fund shall be used to provide funding for the restoration of the Los Angeles City Hall and other Los Angeles municipal facilities in accordance with the programs of Project Restore.
(c) Any City appropriation, any gift, contribution or bequest accepted by the City Council or the General Manager of the Department of General Services, any State reimbursement or any other source of funding for the purpose of restoring the Los Angeles City Hall and other Los Angeles municipal facilities in accordance with the programs of Project Restore shall be placed in the Fund.
(d) All monetary gifts, contributions or bequests to the City on behalf of or from Project Restore for the purposes set forth in this chapter which exceed the sum of $5,000.00, after a recommendation of acceptance by the Board of Directors of Project Restore, shall be submitted to the City Council for acceptance or rejection. All such monetary gifts, contributions or bequests which do not exceed the sum of $5,000.00, after a recommendation of acceptance by the Board of Directors of Project Restore, shall be submitted to the General Manager of the Department of General Services for acceptance or rejection.
(e) The General Manager of the Department of General Services shall inform the Controller of any special terms or conditions placed upon the use of all moneys accepted for deposit in the Fund. The Controller shall establish a separate account within the Fund for each specific use for all accepted monetary gifts, contributions or bequests which contain any special term or condition. No money shall be expended from the Fund except in compliance with each special term or condition under which such money was accepted. Any request for an expenditure of money from any such separate account shall be accompanied by sufficient information for the Controller to determine that the proposed expenditure does not contravene any special term or condition applicable to such separate account.
(f) All monetary gifts, contributions or bequests which are accepted without special terms or conditions upon their use shall be placed in a general account established in the Fund by the Controller.
(g) All interest or other earnings attributable to money in the Fund shall be credited to the Fund and shall be devoted to the purposes set forth in this chapter.
(h) The Fund shall be administered and expenditures therefrom shall be authorized by the General Manager of the Department of General Services. No expenditure may be made from the Fund except for the purposes set forth in this chapter.
(i) The General Manager of the Department of General Services shall report to the City Council regarding and identifying all receipts into, and all expenditures out of, the Fund, as well as the purposes for which the expenditures were made. Each report shall cover the most recent six-month period of time which commenced on April 1 or October 1 and shall be submitted within 60 days after the close of said period.
SECTION HISTORY
Added by Ord. No. 166,034, Eff. 8-11-90.