(a) There is created and established within the Treasury of the City of Los Angeles a trust fund to be known as the Griffith Park 2004 Trust Fund (Fund).
(b) The Fund shall be used for the receipt and disbursement of money from the settlement of the lawsuit entitled City of Glendale v. City of Los Angeles (Los Angeles Superior Court case number BC 275062) concerning the use of Griffith Park land for road improvements. The Fund may be used only for capital improvements in Griffith Park.
(c) All interest and earnings on money in the Fund shall be credited to the Fund and used only for the purposes of the Fund. Pursuant to the City Charter, money in the Fund shall not revert to the Reserve Fund of the City.
(d) The Fund shall be administered by the General Manager of the Department of Recreation and Parks. All expenditures from the Fund must be approved by the Board of Recreation and Parks Commissioners, after consultation with the Member of the City Council from Council District Four.
SECTION HISTORY
Chapter and Section Added by Ord. No. 176,277, Eff. 12-15-04.