(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 “Street Banners Revenue Trust Fund”, hereinafter referred to in this chapter as the “Fund”. A separate account in the Fund shall be created for each Council District.
(b) The purpose of the Fund shall be for the receipt, retention and disbursement of all fees paid to the City of Los Angeles for street banner installations or from the sales of street banners.
(c) The Fund shall be administered by the Director of the Bureau of Street Lighting of the Department of Public Works. Expenditures therefrom shall be authorized by the Director to fund the activities of the Board of Public Works directly related to the enforcement of the City’s laws, rules and regulations, governing the placement of street banners within the City of Los Angeles. Any monies in the Fund which the Director determines to be in excess of the amounts necessary to fund the activities of the Board of Public Works directly related to the enforcement of the City’s laws, rules and regulations, governing the placement of street banners within the City of Los Angeles, shall be divided equally among the Council Districts and be deposited in each separate account for each Council District.
(d) All interest and other earnings attributable to monies in the Fund or to the separate accounts for each Council District shall be credited to the corresponding Fund or account and shall be devoted to the purposes thereof.
(e) The Director shall report to the City Council regarding and identifying all expenditures out of the Fund, as well as the purposes for which the expenditures were made, and shall report on methods for increasing revenue to the Fund. Each report shall cover a fiscal year and shall be submitted within 60 days after the close of said fiscal year.
(f) Monies not expended from or designated for expenditure from the Fund in any fiscal year shall be divided equally among the Council Districts and be deposited in each separate account for each Council District. Pursuant to Charter Section 344, money in the Fund shall not revert to the Reserve Fund of the City.
(g) Expenditures from the separate account for each Council District shall be made from the account for that Council District and be authorized by the Council member representing that Council District, and shall be used exclusively for the following purposes:
(1) Funding consultant studies, design and construction of roadway improvements benefiting motorists and pedestrians;
(2) Funding transit related services, including charter buses, dial-a-ride or other public transit service, and for the payment of any and all expenses relating or incidental thereto, including operating expenses;
(3) Funding the purchase, lease or rental of transit related equipment, including buses, trucks, transit shelters and street furniture, and all expenses relating or incidental thereto;
(4) Funding consultant studies, design and construction of sidewalk, curb improvements and other beautification projects needed to improve conditions for public transit patrons, and all expenses relating or incidental thereto; or
(5) The repayment of any money borrowed or advanced from any other fund with the intent that reimbursement be made from the Fund.
(h) The total amount of all banner fee waivers granted by any Council District pursuant to Los Angeles Municipal Code Section 62.132, shall be deducted from the account for that Council District, and that amount shall be transferred from that account and deposited into the City’s General Fund.
SECTION HISTORY
Chapter and Section Added by Ord. No. 172,900, Eff. 12-23-99.
Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00; First Sentences of Subsecs. (c) and (e), Ord. No. 180,815, Eff. 8-31-09.