§ 70-131. Established.

(a)

In accordance with the provisions of section 6-215 of the Charter, the New Orleans special events fund is hereby established to receive donations from private individuals, corporations and other institutions and entities in the private sector to lessen the burdens of government on the city in attracting and hosting national conventions, special events and other activities which shall benefit the city.

(b)

No donation will be accepted except on an unrestricted basis only in that a donation may not be designated for use in connection with any particular national convention, special event or other activity. It is intended that the city government's discretion will in no way be inhibited to apply this resource in the manner that in its judgment will bring the greatest overall return to the city and its community at large.

(c)

The fund hereby established shall be administered by the director of the department of finance and shall be kept in an interest-bearing account to the benefit of and to become a part of the fund.

(d)

Except for expenditures which were obligated prior to September 30, 1988, no expenditure shall be made from said fund without obtaining the prior authorization from the council by means of a motion approving the expenditure of such fund.

(e)

Such fund shall be subject to an annual audit by an independent certified public accountant.

(Code 1956, § 2-28.1)