Los Angeles Municipal Code § 8.148 Establishment and Operation of “Convention Center Revenue Fund.”

All revenues derived from any such municipal auditorium, municipal auditorium center, convention center or facilities in connection therewith, including the proceeds from any lease thereof, shall be paid, at the direction of the Executive Director of the Convention Center, into either accounts maintained by the private entity under contract with the City to manage, operate and maintain the Convention Center, or into a special fund to be designated as the “Convention Center Revenue Fund”, which fund is hereby established. The expenses of operation, management, maintenance and improvement of any such municipal auditorium, or municipal auditorium center, convention center or the facilities in connection therewith, shall be defrayed solely from the Convention Center Revenue Fund and the revenues or other moneys paid into the same or appropriations budgeted for such purposes to the Los Angeles City Tourism Department, or from accounts maintained by the private entity under contract to manage, operate and maintain the Convention Center. Moneys in the Convention Center Revenue Fund, or in the accounts maintained by the private entity, shall be appropriated or used only as follows:

First: For the necessary expenses of operating, managing, maintaining and improving any such municipal auditorium or municipal auditorium center, convention center, or facilities in connection with any such facilities and discharge of liabilities arising therefrom.

Second: For the payment of the principal and interest, or either, due or coming due, during the fiscal year in which the money in said

fund account is received, or to be received upon outstanding bonds or other evidences of indebtedness, such as lease agreements made by the City to repay such indebtedness issued for the acquisition, construction, or completion of any municipal auditorium, or municipal auditorium center, convention center, or facilities in connection therewith.

Third: To transfer to the Reserve Fund in the manner provided in Section 382 of the Charter; provided, however, that no such transfer shall be made as long as any bonds or other evidences of indebtedness payable out of said revenue fund shall be outstanding and unpaid, or so long as the City is obligated to make payments on a lease which guarantees debt service of bonds or other evidences of indebtedness issued to construct a municipal auditorium, or municipal auditorium center and the facilities in connection therewith, or until there shall have been set apart in a special trust fund, established for such lease payments, bonds or other evidences of indebtedness, sums sufficient to pay, when due, rental payments for the unexpired term of any such lease, and the entire principal of any such indebtedness remaining unpaid, together with interest accrued and to accrue thereon.

SECTION HISTORY

Added by Ord. No. 144,335, Eff. 3-4-73, Oper. 7-1-73. Amended by: Ord. No. 144,926, Eff. 8-17-73; Ord. No. 167,696, Eff. 5-7-92. Readopted by Ord. No. 173,492, Eff. 10-10-00. Amended by: Ord. No. 182,814, Eff. 1-11-14; Ord. No. 183,008, Eff. 6-9-14; Ord. No. 187,183, Eff. 10-18-21.

A revolving fund account to be known as “Outside Expense/Equipment Rental and Purchase Account” is hereby established. The funds in the account shall be used solely for the rental or purchase of services, materials, supplies and equipment requested by a licensee and for which the licensee has in advance agreed to rent or purchase from the Department. The Department shall charge a licensee an amount sufficient to recover the total cost of renting or purchasing an item requested by a licensee and may also charge a licensee a service or handling fee for an item rented or purchased; provided that receipts received from billings to licensees for items rented or purchased through said account shall be deposited into said account. At the end of each fiscal year all unencumbered funds in the account in excess of $15,000.00 shall be transferred to the Convention Center Revenue Fund. Additional funds beyond the $15,000.00 may be appropriated to the Outside Expense/ Equipment Rental and Purchase Account in the budget or at any time subsequent to the adoption of the budget.

SECTION HISTORY

Added by Ord No. 151,322*, Eff. 9-9-78. Amended by: Ord. No. 167,696, Eff. 5-7-92. Readopted by Ord. No. 173,492, Eff. 10-10-00.

• On the date that this Ordinance takes effect, all funds remaining in the “Outside Equipment Rental” account, as established by resolution of the Council dated July 5, 1977, shall be transferred to the “Outside Expense/Equipment Rental and Purchase Account,” and the “Outside Equipment Rental” account shall be abolished.

A revolving fund account to be known as the Building Repair/Damage Account is hereby established within the Convention Center Revenue Fund. The money in the account shall be used solely to pay the cost of repairing damage caused by a licensee, contractor, subcontractor, or an agent, assignee or representative of any one or more of them to any structure, or facility in connection therewith administered by the Department. The Department shall charge said person or entity an amount sufficient to recover the total cost of repairing the damage. Incurred service costs and/or handling fees may be included in said charge. An money received by the Department or the City from licensees, contractors or subcontractors and/or their insurance carriers to pay, or to reimburse the Department of the City for such repairs, shall be deposited into said account. At the end of each fiscal year an unencumbered funds in the account in excess of $10,000.00 shall revert to and be transferred by the Controller to the Operating Revenue Account of the Convention Center Revenue Fund.

SECTION HISTORY

Added by Ord. No. 160,681, Eff. 2-22-86. Amended by: Ord. No. 167,696, Eff. 5-7-92. Readopted by Ord. No. 173,492, Eff. 10-10-00.

A revolving fund account to be known as “Salaries and Expense Reimbursement Account” is hereby established. The funds in the account shall be used solely for the reimbursement to the Los Angeles City Tourism Department labor and expense accounts for expenses incurred as a result of providing client requested services or materials. The Department shall charge the service requestor an amount sufficient to recover the total cost of providing the service. The receipts received from billings to the service requestor for provided services or materials shall be deposited into said account. At the end of each fiscal year all unencumbered funds in the account in excess of $100,000.00 shall be transferred to the Los Angeles Convention Center Revenue Fund. Additional funds beyond the $100,000.00 may be appropriated to the

Salaries and Expense Reimbursement Account in the budget or at any time subsequent to the adoption of the budget.

SECTION HISTORY

Added by Ord. No. 172,877, Eff. 11-28-99. Readopted by Ord. No. 173,492, Eff. 10-10-00. Amended by: Ord. No. 183,008, Eff. 6-9-14; Ord. No. 187,183, Eff. 10-18-21.