(a) There is hereby created and established within the Treasury of the City of Los Angeles a special fund to be known as the RESERVE FOR EXTRAORDINARY LIABILITY CLAIMS (the “Fund”) for the deposit of funds as may be directed, transferred or appropriated by the Council for the purposes of funding settlements and judgments arising from the Kimpel v. Williams lawsuit and related litigation and from litigation arising from the Rampart Division investigations. Disbursements from the Fund shall be subject to the prior authorization of the Council.
(b) The Fund shall be administered by the City Attorney. All interest earnings accruing on money in the Fund shall be credited to the Fund to be used for the purposes thereof. Money in the Fund shall not revert to the Reserve Fund of the City.
SECTION HISTORY
Chapter and Section Added by Ord. No. 173,180, Eff. 5-18-00.