(a) There is hereby created and established within the Treasury of the City of Los Angeles a special fund to be known as the "Measure W – Safe, Clean Water – Municipal Program Special Fund", hereinafter referred to as the "Fund".
(b) The purpose of the Fund shall be for the receipt, retention, and disbursement of monies received from the Los Angeles County Safe, Clean Water Municipal Program (Safe, Clean Water Municipal Program). The monies placed in the Fund shall be used for municipal programs pursuant to the Safe, Clean Water Municipal Program.
(c) The Fund shall be administered by the Department of Public Works, Bureau of Sanitation (Fund Administrator).
(d) Expenditures from the Fund shall be made by the Fund Administrator solely to fund activities related to the purpose of the Fund and in accordance with the Safe, Clean Water Municipal Program.
(e) At the close of each fiscal year, monies not expended from the Fund, or any account within the Fund, shall remain in the Fund and shall not revert to the Reserve Fund in accordance with Charter Section 344.
(f) The Fund Administrator shall prepare and present to the City Council an annual report identifying all receipts into and all expenditures out of the Fund, as well as the purpose of expenditures. Each report shall cover a fiscal year and shall be submitted within 90 days after the close of that fiscal year.
(g) The Fund shall be interest bearing. Interest and any other earnings attributable to monies in the Fund shall be credited to the Fund and devoted to the purposes of the Fund.
SECTION HISTORY
Chapter and Section Added by Ord. No. 186,612, Eff. 6-24-20.