PROPOSITION K FUNDS

Los Angeles Administrative Code div. 5, ch. 114

in effect

Los Angeles Administrative Code § 5.514 Parks Assessment Fund.

Sec. 5.514. Parks Assessment Fund. There is hereby created and established within the Treasury of the City of Los Angeles a special trust fund to be known as the Parks Assessment Fund (the “Assessment Fund”) for the deposit and use of assessments collected pursuant to Proposition K, approved by the voters on November 5, 1996. The Assessment Fund shall be administered by the Director of the Office of Administrative and Research Services. All interest earnings accruing on money in the Assessment Fund shall be credited to, and used for the purposes of, the Assessment Fund. Money not expended from the Assessment Fund in any fiscal year shall not revert to the Reserve Fund, but shall remain in the Assessment Fund. SECTION HISTORY Chapter and Section Added by Ord. No. 172,855, Eff. 11-8-99. Amended by Ord. No. 172,960, Eff. 1-22-00; Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Los Angeles Administrative Code § 5.514.1 Proposition K Projects Fund, Maintenance Fund and Administration Fund.

Sec. 5.514.1. Proposition K Projects Fund, Maintenance Fund and Administration Fund. There are hereby created and established within the Treasury of the City of Los Angeles special trust funds to be known as the Proposition K Projects Fund (the “Projects Fund”), the Proposition K Maintenance Fund (the “Maintenance Fund”), and the Proposition K Administration Fund (the “Administration Fund”) for the deposit, respectively, of 82% of the Proposition K assessments plus all funds collected through interest and penalties for acquisitions and capital improvements, including debt service (the “Projects”), 15% of the Proposition K assessments for maintenance, and 3% of the Proposition K assessments for incidental costs, which shall include administrative costs of the City. Money in each Fund may be used for Projects, debt service, maintenance, and incidental costs. However, by the end of the 30 years duration of Proposition K, 82% of the total assessments shall have been used for Projects and debt service, 15% for maintenance, and 3% for incidental costs. The Funds shall be administered by the Director of the Office of Administrative and Research Services. All earnings by each Fund shall be retained in that Fund. Money not expended from a Fund in any fiscal year shall not revert to the Reserve Fund, but shall remain in that Fund. SECTION HISTORY Added by Ord. No. 172,960, Eff. 1-22-00. Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Los Angeles Administrative Code § 5.514.2 Proposition K Bonds Match Fund.

Sec. 5.514.2. Proposition K Bonds Match Fund. (A) There is hereby created and established within the Treasury of the City of Los Angeles a special trust fund to be known as the Proposition K Bonds Match Fund (the “Fund”) for the deposit and use of matching money received for projects funded from bonds issued under Proposition K: the L.A. for Kids Program. (B) The purpose of the Fund is for the receipt of money from City and non-City sources that will serve as matching money contributions for park and recreational capital projects being funded with bonds issued under Proposition K: the L.A. for Kids Program. Each project required to provide matching funds shall have its own account within the Fund. Money in each project account shall only be used to pay for the design, construction and/or acquisition costs of the project and cannot be transferred to another project without the written consent of the contributor of the money. Money in each project account up to the amount of the official match amount for the project, which shall be determined by the Director of the Office of Administrative and Research Services at the time of the issuance of the related bonds, shall be used before bond proceeds are used on the project. If any of the official match amount for a project is provided for elsewhere other than in the Fund, the money in the project account shall not be used until such other matching funds have been used first. Any money in excess of the official match amount shall be payable to the entity responsible for operating the project. (C) The Fund shall be administered by the Director of the Office of Administrative and Research Services. All interest earnings accruing on money in the Fund shall be credited to each account in the Fund to which they are attributable and shall be devoted to the purposes thereof. Money not expended from the Fund in any fiscal year shall not revert to the Reserve Fund, but shall remain in the Fund. SECTION HISTORY Added by Ord. No. 172,960, Eff. 1-22-00. Amended by: Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00.

Los Angeles Administrative Code § 5.514.3 Landscaping and Lighting District 96-1 Assessment Bonds, Series 2000.

Sec. 5.514.3. Landscaping and Lighting District 96-1 Assessment Bonds, Series 2000. There is hereby created within the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the Landscaping and Lighting District 96-1 Assessment Bonds, Series 2000 (the “Bonds”), the Landscaping and Lighting District 96-1 Assessment Bonds, Series 2000 Improvement Fund (the “Improvement Fund”). No expenditures may be made from the Improvement Fund except for the purposes of the Proposition K acquisitions and capital improvements and as provided in the Indenture relating to the Bonds. All earnings by the Improvement Fund shall be retained in the Improvement Fund to be used for the purposes of the Improvement Fund or for purposes in accordance with the City’s Tax Certificate for the Bonds. Money not expended from the Improvement Fund in any fiscal year shall not revert to the Reserve Fund, but shall remain in the Improvement Fund. SECTION HISTORY Added by Ord. No. 172,960, Eff. 1-22-00.

Los Angeles Administrative Code § 5.514.4 Landscaping and Lighting District 96-1 Assessment Bonds, Series 2001.

Sec. 5.514.4. Landscaping and Lighting District 96-1 Assessment Bonds, Series 2001. There is hereby created within the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the Landscaping and Lighting District 96-1 Assessment Bonds, Series 2001 (the “Bonds”), the Landscaping and Lighting District 96-1 Assessment Bonds, Series 2001 Improvement Fund (the “Improvement Fund”). No expenditures may be made from the Improvement Fund except for the purposes of Proposition K acquisitions and capital improvements and as provided in the Indenture relating to the Bonds. All earnings by the Improvement Fund shall be retained in the Improvement Fund to be used for the purposes of the Improvement Fund or for purposes in accordance with the City’s Tax Certificate for the Bonds. Money not expended from the Improvement Fund in any fiscal year shall not revert to the Reserve Fund, but shall remain in the Improvement Fund. SECTION HISTORY Added by Ord. No. 173,794, Eff. 4-5-01.

Los Angeles Administrative Code § 5.514.5 Landscaping and Lighting District 96-1 Assessment Bonds, Series 2002.

Sec. 5.514.5. Landscaping and Lighting District 96-1 Assessment Bonds, Series 2002. There is hereby created within the Treasury of the City of Los Angeles for the purpose of receiving money from the sale of the Landscaping and Lighting District 96-1 Assessment Bonds, Series 2002 (the “Bonds”), the Landscaping and Lighting District 96-1 Assessment Bonds, Series 2002 Improvement Fund (the “Improvement Fund”). No expenditures may be made from the Improvement Fund except for the purposes of the Proposition K acquisitions and capital improvements and as provided in the Indenture relating to the Bonds. All earnings by the Improvement Fund shall be retained in the Improvement Fund to be used for the purposes of the Improvement Fund or for purposes in accordance with the City’s Tax Certificate for the Bonds. Money not expended from the Improvement Fund in any fiscal year shall not revert to the Reserve Fund, but shall remain in the Improvement Fund. SECTION HISTORY Added by Ord. No. 174,532, Eff. 6-2-02.

Source: City of Los Angeles, Charter and Codes (American Legal Publishing, codelibrary.amlegal.com)URL: https://codelibrary.amlegal.com/codes/los_angeles/latest/laac/0-0-0-26625Fetched: 10/24/2026