(a) There is hereby created and established in the Treasury of the City of Los Angeles a special trust fund to be known as the “Council District 13 Public Benefits Trust Fund,” hereinafter referred to in this chapter as the “Fund.”
(b) The purpose of the Fund shall be for the receipt, retention and disbursement of gifts, contributions and bequests for the support of police and community activities within Council District 13.
(c) The Fund shall be administered by the City Clerk. Expenditures from the Fund shall be authorized by the Council member representing Council District 13.
(d) All gifts, contributions and bequests to the City for the purposes set forth in this chapter which exceed the sum of $5,000 in value shall be submitted to the City Council for acceptance or rejection. All such gifts, contributions and bequests to the City which do not exceed the sum of $5,000 in value shall be submitted to the Council member representing Council District 13 for acceptance or rejection.
(e) The City Clerk shall inform the Controller of any special terms or conditions placed upon the use of all monies accepted for deposit in the Fund. The Controller shall establish a separate account in 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 would not contravene the specific use for which such separate account was established.
(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 and other earnings attributable to monies in the Fund shall be credited to the Fund and shall be devoted to the purposes thereof.
(h) The City Clerk shall report to the City Council and Mayor 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 a fiscal year and shall be submitted within 60 days after the close of said fiscal year.
SECTION HISTORY
Chapter and Section Added by Ord. No. 171,544, Eff. 4-28-97.