(a) Creation of the Fund. There is hereby created within the City Treasury a special fund to be known as the "Central Los Angeles Recycling and Transfer Station Community Amenities Trust Fund," referred to in this Chapter as the "Fund" and administered by the City Clerk.
(b) Purpose of the Fund. The Fund shall be used for the purpose of financing community amenities within the City of Los Angeles Council District 14.
(c) Appropriation to the Fund. The City Clerk is hereby directed to request annual appropriations to the Fund in the amount of $1 per ton of waste delivered to the Central Los Angeles Recycling and Transfer Station in the prior year. The appropriation shall be made from the Central Los Angeles Recycling and Transfer Station Trust Fund.
(d) Expenditures from the Fund. Appropriation from the Fund shall be authorized upon recommendation by the Councilperson of the district, only by the City Council, by resolution on a project-by-project basis, and shall be used exclusively for purposes set forth in subsection (b) above.
(e) Interest. All interest and other earnings attributable to monies in the Fund shall be credited to the Fund and shall be devoted to the purposes thereof.
SECTION HISTORY
Chapter and Section Added by Ord. No. 175,949, Eff. 6-14-04.