(Added by Ord. No. 162,864, Eff. 11/22/87.)
There is hereby established a special fund in the City Treasury entitled Sewer Capital Fund. All monies received as capital payments from contracting agencies for sewer services and grant receipts shall be deposited into this Fund. Monies shall be transferred by the Treasurer from the Sewer Construction and Maintenance Fund to the Sewer Capital Fund, on or before the twenty-fifth day of each month commencing on November 25, 1987, provided there are otherwise sufficient funds available to make that month’s transfers as required by Section 5.168.2 of the Los Angeles Administrative Code, for the purpose of funding capital projects of the City’s wastewater system, as directed by the Director of the Bureau of Accounting, Department of Public Works, with the concurrence of the Controller. Monies deposited in this Fund shall not be subject to reversion to the Reserve Fund. Such monies shall also be available, if needed, to fund the Wastewater System Revenue Bonds Funds created by Section 5.168.1 of the Los Angeles Administrative Code. Amounts may be advanced to the Sewer Operation and Maintenance Fund, if required, as directed by the Director of the Bureau of Accounting, Department of Public Works, with the concurrence of the Controller.