(a) There is created and established in the Treasury of the City of Los Angeles a trust fund to be known as the “Century City Neighborhood Traffic Protection Trust Fund” (Fund).
(b) The purpose of the Fund shall be the receipt, retention and disbursement of neighborhood traffic management funds received by the City from projects in the Century City Neighborhood Traffic Mitigation Plan Area to alleviate existing neighborhood traffic problems within the Century City North and Century City South Plan areas (Plans). The Fund shall also be used for the disbursement of monies transferred into the Fund by the City Council in accordance with the provisions stated in the City Charter.
(c) The Fund shall be administered by the Director of the Public Works Bureau of Financial Management and Personnel Services or his or her designee (Director) in accordance with established City practices and the provisions of the Fee Mitigation Act (Government Code § 66000, et seq.) after consultation with the Councilmember(s) representing the Plan areas. The Director may authorize expenditures from the Fund for design and construction after submittal and approval of cost estimates. Any authorized expenditures shall conform with the provisions of the California Environmental Quality Act (California Public Resources Code § 21000, et seq.). No more than 5% of the monies remaining at the end of the fiscal year in the separate account in the fund for each specific use shall be used each year for administrative costs. Administrative costs shall not include traffic incursion studies, feasibility studies, traffic data surveys, preparation of a neighborhood traffic management plan, conceptual drawings, construction drawings, construction engineering, and construction.
(d) The Director, after consultation with the Councilmember(s) of the Plan areas, shall inform the Controller of any special condition or restriction imposed upon any monies accepted for deposit in the Fund. The Controller shall establish a separate account in the Fund for each specific use. No money shall be expended from the Fund except in compliance with the provisions of the specific use for which it was accepted. Any request for an expenditure of money from the Fund or any of its separate accounts shall be accompanied by sufficient information for the Controller to determine that the proposed expenditure is consistent with the specific use for which the Fund or the separate account was established.
(e) The Director is authorized to establish appropriate procedures to carry out the provisions of this chapter.
(f) Monies not expended from the Fund at the close of any fiscal year shall not revert to the Reserve Fund, but shall remain in the Fund.
(g) All interest and other earnings attributable to monies in the Fund or to any of the separate accounts within the Fund shall be credited to the Fund or to the account to which it is attributable and shall be devoted to the purposes of the Fund.
(h) The Director shall maintain appropriate supporting records of the actual costs of the services rendered pursuant to the Fund. The Director shall report to the City Council and the Mayor regarding and identifying all receipts into, and all expenditures out of, the Fund as well as the purpose for which the expenditures were made. Each report shall cover a fiscal year and shall be submitted within 90 days after the close of that fiscal year.
(i) Neighborhood traffic management funds received from projects in the Plan areas prior to the effective date of this Ordinance that are currently deposited in the West Los Angeles Transportation Improvement and Mitigation Fund, and all interest and other earnings attributable to these monies, shall be transferred to the Fund upon its effective date.
SECTION HISTORY
Added by Ord. No. 175,787, Eff. 3-29-04.