Los Angeles Municipal Code § 5.103 Street Improvement Assessments

In addition to the purpose of purchasing warrants, assessments and diagrams as provided in Section 5.100, monies may be withdrawn from the fund to make progress payments to contractors or to pay right-of-way or utility relocation costs as directed by the Board of Public Works. Also, the fund may be used to meet the cost of constructing improvements pursuant to Article 1 of Chapter 2 of Division 6 of this Code, and the proceeds from assessments made pursuant to said Article 1, including penalties, interest and costs, shall be paid into said fund.

SECTION HISTORY

Based on Ord. No. 134,367. Amended by: Ord. No. 143,274, Eff. 5-13-72.

Said revolving trust fund shall also be used for the purpose of advancing payment of assessments levied against property owned by the City of Los Angeles or other public agencies under the Improvement Act of 1911 (Div. 7, Streets and Highways Code). Demand for such purpose shall be drawn by the Board of Public Works, payable to the Bureau of Assessments of the City of Los Angeles, and the said Bureau shall forthwith process such demands for payment prior to the expiration of 30 days following the date of recordation of any warrant which includes any such assessments. The Board of Public Works shall collect from the owner of the property against which such assessment was levied the amount of the demand drawn, and shall deposit such amounts when collected in said revolving trust fund.

SECTION HISTORY

Based on Ord. No. 134,367. Amended by: Ord. No. 136,278. Added by Ord. No. 140,175, Eff. 6-17-70.

Said revolving trust fund may also be used, to a maximum of $100,000 in each fiscal year, for the purpose of advancing payment of assessments under the City’s Assessment Deferral Program. The Board of Public Works shall approve each such payment of assessments.

SECTION HISTORY

Added by Ord. No. 172,698, Eff. 8-15-99.