(a) There is created and established in the Treasury of the City of Los Angeles a special fund to be known as the "Permit Parking Program Revenue Fund" (Fund).
(b) The purpose of the Fund shall be the receipt, retention and disbursement of funds received by the Los Angeles City Department of Transportation for the formulation, implementation, maintenance and enforcement of Preferential Parking Districts, Overnight Parking Districts, Oversize Vehicle Restricted Areas, Carshare, and other vehicle permitting functions and the administration of the permit parking programs. The Fund shall also be used for the disbursement of monies transferred into the Fund by the City Council.
(c) The Fund shall be administered by the General Manager of the Department of Transportation or the Manager's designee(s).
(d) The Department of Transportation shall collect payments derived from the sale of parking permits to residents of Preferential Parking Districts, Overnight Parking Districts, Oversize Vehicle Restricted Areas, Carshare, and other vehicle sharing permitting functions, and remit these funds to the Treasury of the City of Los Angeles for deposit into the Fund. 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.
(e) The General Manager of the Department of Transportation 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 of the Overnight Parking Districts, Preferential Parking Districts, Oversize Vehicle Restricted Areas and the Carshare and other Vehicle sharing permits programs.
(f) The General Manager of the Department of Transportation is authorized to establish appropriate procedures to carry out the provisions of this Article.
(g) 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.
(h) The General Manager of the Department of Transportation shall maintain appropriate accounting records of the actual costs of the services rendered pursuant to the Fund.
SECTION HISTORY
Added by Ord. No. 176,861, Eff. 9-14-05.
Amended by: Article Title and Section, Ord. No. 181,918, Eff. 12-6-11.