Los Angeles Administrative Code § 5.461 Creation and Administration of the Fund.
Sec. 5.461. Creation and Administration of the Fund.
(a) There is hereby created and established in the Treasury of the City of Los Angeles a trust fund to be known as the “Used Oil Collection Trust Fund,” hereinafter referred to in this chapter as the “Fund.”
(b) The purpose of the Fund shall be for the receipt, retention and disbursement of gifts, contributions, bequests, grants, allocations and other monies from the State of California, other governmental agencies or private sources for the establishment and maintenance of used oil collection programs which encourage recycling or appropriate disposal of used oil.
(c) The Fund shall be administered and all expenditures therefrom shall be authorized by the Board of Public Works in accordance with established City practice, provided, however, that no expenditure shall be made from the Fund for any purpose which is contrary to the budget policy of the Department of Public Works, as established by the Mayor and Council with respect to the Fund.
(d) All gifts, contributions, bequests, grants and allocations to the City for the purposes set forth in this chapter which exceed the sum of $5,000 in value shall be submitted to the City Council for acceptance or rejection. All such gifts, contributions, bequests, grants and allocations to the City which do not exceed the sum of $5,000 in value shall be submitted to the Board of Public Works for acceptance or rejection.
(e) The Board of Public Works shall inform the Controller of any special terms or conditions placed upon the use of all monies accepted for deposit in the Fund. The Controller shall establish a separate account in the Fund for each specific use of all accepted gifts, contributions, bequests, grants or allocations which contain any special term or condition. No money shall be expended from the Fund except in compliance with each special term or condition under which such money was accepted. Any request for an expenditure of money from any such separate account shall be accompanied by sufficient information for the Controller to determine that the proposed expenditure would not contravene the specific use for which such separate account was established.
(f) All monetary gifts, contributions, bequests, grants or allocations which are accepted without special terms or conditions upon their use shall be placed in a general account established in the Fund by the Controller.
(g) All interest or other earnings attributable to monies 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.
SECTION HISTORY
Chapter and Sec. Added by Ord. No. 169,579, 4-18-94.