New Orleans City Code § 70-415.21 Established.
Sec. 70-415.21. - Established.
(a) In accordance with the provisions of section 6-207 of the Charter, the Music and Entertainment Commission of New Orleans Fund is hereby established to receive allocations for its operating budget from various funding sources, such as the New Orleans Tourism Marketing Corporation, as well as grant funds, donations and other monetary contributions from private individuals, corporations, and other institutions and entities in the private sector to support the programs and activities of the commission.
(b) Funds will be accepted either on an unrestricted basis, or for the support of a specific program, project, activity, or other use designated by the donor and agreed to by the city and the commission.
(c) Funds to be received conditionally should be reviewed by the board of city trusts, as required by section 4-1802 of the City Charter.
(d) The fund hereby established shall be administered by the director of the department of finance and shall be kept in an interest bearing account to the benefit of and to become a part of the fund.
(e) All expenditures from such fund shall be made in accordance with the department of finance procedures and requirements.
(f) Such fund shall be subject to an annual audit by an independent certified public accountant.
(g) No expenditure shall be made from such fund without obtaining the prior authorization from the city council by means of a motion approving the expenditure of such funds.
(M.C.S., Ord. No. 17,624, § 1, 6-20-96)