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Monies may be advanced from the Special Parking Revenue Fund for the purposes described in Section 5.117 of this Code including incidental expenses, as defined in Section 5.118, upon or by order of the City Council upon such conditions as said Council may impose, provided, however, that in the absence of Council order to the contrary, monies as advanced shall be returned to the Special Parking Revenue Fund from any monies realized from the payment of assessments, sale of bonds or from any other means of financing the acquisitions and improvement of off-street parking facilities in connection with the vehicle parking districts formed pursuant to the provisions of the Streets and Highways Code of the State of California.
SECTION HISTORY
Based on Municipal Code, Sec. 88.09.2.
Added by Ord. No. 143,157, Eff. 5-4-72. (Formerly Sec. 5.119 in Art. 3, with changes.)
(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.
(a) The Reserve Fund is established by Charter Section 302. Pursuant to Charter Section 302, the Reserve Fund shall include funding for unanticipated expenditures and revenue shortfalls in the City’s General Fund and includes two accounts within the Reserve Fund, the Contingency Reserve Account and the Emergency Reserve Account. It is the goal of the City Council that the amount allocated annually to the Reserve Fund, including the amount required by the Charter to be allocated to the Emergency Reserve Account, shall be not less than 5 percent (5%) of all General Fund receipts anticipated for that fiscal year in the adopted budget. The provisions and limitations applicable to the Reserve Fund, Contingency Reserve Account, and Emergency Reserve Account are set forth in Charter Section 302. However, the Charter provides that the City Council shall, by ordinance, establish policies for the use of the Contingency Reserve Account.
(b) Policies for Use of the Contingency Reserve Account. The Contingency Reserve Account shall include all monies in the Reserve Fund over and above the amount required to be allocated to the Emergency Reserve Account pursuant to Charter Section 302
. The Contingency Reserve Account will be the source of additional funding needed as a result of unanticipated expenditures and revenue shortfalls. Transfers and appropriations from the Contingency Reserve Account shall be made in compliance with Charter Sections 340 and 341 in accordance with the policy decisions and determinations made by the Council and Mayor in connection with the City budget, as revised from time to time.
SECTION HISTORY
Based on Charter Sec. 380.
Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00; Ord. No. 182,928, Eff. 4-12-14.
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