(a) There is hereby created and established within the Treasury of the City of Los Angeles a special fund to be known as the “Bureau of Street Services Transaction Fund” (Fund).
(b) The purpose of the Fund shall be the receipt, retention, and disbursement of monies collected from the Department of Public Works - Bureau of Street Services transactions, including Special Event Permit transactions, or other transactions required for Bureau of Street Services projects, excluding capital improvement projects with a total budget exceeding $100,000, adjusted annually in accordance with the Consumer Price Index, including all phases of the project.
(c) The Fund shall be administered by the Bureau of Street Services.
(d) Pursuant to Charter Section 344(a), at the close of each fiscal year, monies not expended from the Fund shall remain in the Fund and shall not revert to the Reserve Fund. Accrued interest in the Fund shall be transferred to the General Fund.
SECTION HISTORY
Article and Section Added by Ord. No. 186,820, Eff. 12-21-20.