Whenever the people of the City of Los Angeles have authorized the issuance of general obligation bonds for any “municipal improvement” as authorized under Article 1, Chapter 4, Division 4, Title 4 of the California Government Code or for any acquisition or improvement of real property pursuant to California Constitution Article XIIIA, Section 1(b):
1. The Council may in its discretion order the board or officer, which by the terms of the Charter or by ordinance not in conflict therewith, will have superintendence and control over such municipal improvement or over the acquisition or improvement of such real property, to submit a plan for expenditure of the proceeds of the bonds, when sold; or
2. The Board or officer, which by the Charter or by ordinance not in conflict therewith, will have superintendence and control over such municipal improvement or over the acquisition or improvement of such real property, may, with the approval of the Mayor, submit to the Council a request for the sale of the bonds or any specified portion thereof together with a plan for expenditure of the bond proceeds; or
3. The Director of the Office of Administrative and Research Services, with the approval of the Mayor, may submit to the Council, with the assistance of the boards or officers which will have superintendence and control over such municipal improvements or over the acquisition or improvement of such real property, a request for the sale of the bonds or any specified portion thereof, accompanied by a plan for expenditure of the bond proceeds, together with the study and report of the Director of the Office of Administrative and Research Services.
SECTION HISTORY
Based on Ord. No. 132,005.
Repealed and re-added by Ord. No. 165,841, Eff. 5-28-90.
Amended by: Ord. No. 173,306, Eff. 6-30-00, Oper. 7-1-00.