ADJUSTMENT OF OVERAGES AND SHORTAGES OF PAYMENTS ON STREET IMPROVEMENT BONDS

Los Angeles Administrative Code div. 11, ch. 1, art. 7

in effect

Los Angeles Administrative Code § 11.29 Authority of Treasurer.

Sec. 11.29. Authority of Treasurer. The Treasurer of the City of Los Angeles is hereby authorized to retain and use any excess up to and including fifty cents ($.50) of the amount legally due in any payment received by the Treasurer on account of principal or interest or penalties on any bond issued by the Treasurer pursuant to any improvement act codified in the Streets and Highways Code of the State of California for the purpose of adding to any such payment which is short up to and including thirty five cents ($.35) of the amount legally due. SECTION HISTORY Based on Ord. No. 121,928.

Los Angeles Administrative Code § 11.30 Claim Required for Refund.

Sec. 11.30. Claim Required for Refund. Notwithstanding the authority conferred by Section 11.29 hereof, the Treasurer shall refund any such excess payment upon the filing of a claim therefor as required by law. SECTION HISTORY Based on Ord. No. 121,928.

Source: City of Los Angeles, Charter and Codes (American Legal Publishing, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/los_angeles/latest/laac/0-0-0-41808Fetched: 10/24/2026