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The Library Fund is established by Charter Section 531(c).
SECTION HISTORY
Amended by: Ord. No. 173,295, Eff. 6-30-00, Oper. 7-1-00.
Pursuant to Charter Section 531(d), for Fiscal Years 2011-12, 2012-13 and 2013-14, the City Council is required to adopt an ordinance establishing the minimum amount of the incremental increases in Library appropriations mandated by Charter Section 531(a) that must be dedicated to restore Library services and programs. Charter Section 531(d) requires that this minimum amount shall be not less than 45% of the increase in appropriation over the Charter mandated sum appropriated in 2010-2011. The remainder of those annual incremental increases shall be used to pay for Library indirect costs.
In Fiscal Year 2010-2011, the appropriation to the Library required by Charter Section 531(a) was $75,902,051, a sum equal to 0.0175% of the assessed value of all property in the City of Los Angeles for that fiscal year. In Fiscal Year 2011-2012, the appropriation to the Library required by Charter Section 531(a) is $87,604,567, a sum equal to 0.0206% of the assessed value of all property in the City of Los Angeles for purposes of that fiscal year. Accordingly, the increase in the Charter mandated appropriation to the Library between Fiscal Year 2010-2011 and 2011-2012 is $11,702,516 (“current fiscal year increased appropriation”).
Pursuant to Charter Section 531(d), the City Council determines that for Fiscal Year 2011-2012, a minimum of 45% of the current fiscal year increased appropriation shall be dedicated to restore Library services and programs.
SECTION HISTORY
Added by Ord. No. 181,807, Eff. 7-25-11.