All Stormwater Pollution Abatement Charge moneys collected for the City shall be placed and deposited into the Stormwater Pollution Abatement Fund established by Section 64.51.11 of this Code, such moneys to be expended for the purposes set forth in Section 64.51.03(a), of this article to pay for any refunds, billing, collection and administration costs related to the Stormwater Pollution Abatement Charge and as security and payment of the principal and interest, premiums, if any, of bonds and other obligations issued or incurred for storm drain related purposes and to otherwise comply with, be in accordance with, or be in furtherance of, any provisions of law relating to the issuance of such bonds or other obligations and the resolutions under which such bonds or other obligations are issued or incurred. The Board is hereby authorized to draw demands upon such fund where necessary to pay the Los Angeles County Tax Collector for its administrative and other costs in connection with refunds, billing and collecting such Stormwater Pollution Abatement Charge pursuant to arrangements made as set forth in Section 64.51.07(a) of this article.
Monies collected from waivers pursuant to Chapter VI, Article 4.4, Section 64.72.02 of the Los Angeles Municipal Code shall be placed and deposited into the Stormwater Pollution Abatement Fund. Such monies shall only be expended to promote regional or alternative solutions for stormwater pollution prevention. (Para. Added by Ord. No. 173,494, Eff. 9/14/00.)