1. Receipt of Fee: Vehicle registration fees due pursuant to this Chapter disbursed by the SCAQMD and remitted to the City shall be accepted by the Fee Administrator.
2. Transfer of Funds: Upon receipt of vehicle registration fees, the Fee Administrator shall be responsible for placement of such funds into a separate account as hereinafter specified.
3. Establishment of Air Quality Improvement Trust Fund: The Fee Administrator shall establish a separate interest-bearing trust fund account in a financial institution authorized to receive deposits of City funds. Interest earned by the account shall be credited to that account and shall be used to finance mobile source air pollution programs.
4. Audits: The City consents to audits, at least once every two years, of all programs and projects funded by vehicle registration fee revenues provided under Section 44223 of the Health and Safety Code.
(Ord. MC-784, 5-07-91)