Los Angeles Municipal Code Art. 10 Public Works Employment Act of 1976 – Title II Trust Fund

(a) There is hereby established within the Treasury of the City of Los Angeles a fund known as the Public Works Employment Act of 1976

• Title II Trust Fund.

  (b) All money received by the city under the terms of the Public Works Employment Act of 1976 (Title II, Public Law 94-369, enacted July 22, 1976) shall be deposited in the Public Works Employment Act of 1976 - Title II Trust Fund.

  (c) The Treasurer shall deposit in the Public Works Employment Act of 1976 - Title II Trust Fund any interest earned from the deposit or investment of all money received by the city pursuant to the Public Works Employment Act of 1976.

  (d) No expenditure shall be made from the Public Works Employment Act of 1976 - Title II Trust Fund except for a purpose approved by the Public Works Employment Act of 1976 or by regulations of the Secretary of the Treasury as provided therein. Expenditures from the Trust Fund shall be made in accordance with the laws and procedures applicable to the expenditure of the city’s own funds.

  (e) All city officers and employees who have any control over the investment or expenditure of money in the Public Works Employment Act of 1976 - Title II Trust Fund are directed to use fiscal, accounting and audit procedures that conform to the regulations established by the Secretary of the Treasury therefor.

  (f) All city officers and employees who have any control over the investment or expenditure of money in the Public Works Employment Act of 1976 - Title II Trust Fund shall provide to the Director of Revenue Sharing and to the Comptroller General of the United States access to and the right to examine such books, documents, papers or records as they may require for the purposes of reviewing compliance with and operations under the Act and applicable regulations.

  (g) Any contract awarded by the city to be financed in whole or in part by money in the Public Works Employment Act of 1976 - Title II Trust Fund shall contain provisions requiring contractors to pay laborers and mechanics on construction, alteration and repair projects, including painting and decorating costing in excess of $2,000, at rates which conform to federal law.

  (h) The Public Works Employment Act of 1976 - Title II Trust Fund shall cease to exist upon the adoption of a resolution by the City Council determining that all funds deposited therein have been expended and that there is no anticipated renewal of the program set forth in Title II of the Public Works Employment Act of 1976.

  SECTION HISTORY

  Added by Ord. No. 149,227, Eff. 3-5-77.