Los Angeles Municipal Code Art. 2 Equestrian Facilities Trust Fund

Pursuant to the provisions of Section 53.15.1 of the Los Angeles Municipal Code, there is hereby established in the City Treasury a fund to be known as the “Equestrian Facilities Trust Fund”, hereinafter referred to in this article as the “Fund”.

SECTION HISTORY

Added by Ord. No. 144,752, Eff. 6-21-73.

Equine license fee payments, but not penalties thereon, shall be deposited in the Fund in accordance with the provisions of Los Angeles Municipal Code Section 53.15.1. All interest earnings on money in the Fund shall be credited to, and used for the purposes of, the Fund. 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. 144,752, Eff. 6-21-73. Amended by: Ord. No. 161,729, Eff. 12-8-86; Ord. No. 165,486, Eff. 3-5-90; Ord. No. 182,634, Eff. 8-25-13.

The purposes of the Fund are to provide for the acquisition and construction of new equestrian facilities, such as bridle trails, and to maintain bridle trails located on publicly dedicated property, as identified by the City Engineer. The moneys deposited in the Fund shall be used exclusively for such purposes.

SECTION HISTORY

Added by Ord. No. 144,752, Eff. 6-21-73. Amended by: Ord. No. 161,729, Eff. 12-8-86.

The Fund is to be administered and expended by the Department of Recreation and Parks for the aforesaid purposes only, and expenditures are to be made only after approval by the City Council.

SECTION HISTORY

*Added by Ord. No. 144,752. Eff. 6-21-73.

*This ordinance shall not take effect until Section 53.15.1 of the Los Angeles Municipal Code has been amended so as to require the deposit of 40 percent of fees collected under said section in this Equestrian Facilities Trust Fund.