As applied in this chapter, the following words and terms shall be defined as follows:
"City"
shall mean the City of Walnut.
"Mobile source air pollution reduction programs"
shall mean any program or project implemented by the City to reduce air pollution from motor vehicles which it determines will be consistent with the California Clean Air Act of 1988 or the plan proposed pursuant to Article 5 (commencing with Section 40460) of Chapter 5.5 of Part 3 of the California Health and Safety Code.
"Fee administrator"
shall mean the Finance Director of the City or designee.
A. 
Receipt of Fee. The additional vehicle registration fee disbursed by the SCAQMD and remitted to the City, for purposes of reduction of air pollution pursuant to Health and Safety Code Section 44243, shall be accepted by the fee administrator.
B. 
Establishment of Air Quality Improvement Trust Fund. The fee administrator shall establish a separate Air Quality Improvement Trust Fund into which all fee revenues distributed to the City shall be deposited, and out of which expenditures shall be made to reduce air pollution in accordance with California Health and Safety Code Section 44243.
C. 
Transfer of Funds. Upon receipt of the funds described in subsection A above, the fee administrator shall deposit such funds into the separate fund established pursuant to subsection B above. All interest earned by the trust fund shall be credited only to that fund.
D. 
Expenditure of Air Quality Trust Fund Revenues. All revenues received from the SCAQMD and deposited in the trust fund shall be exclusively expended on mobile source air pollution reduction programs. Such revenues, and any interest earned on the revenues, shall be expended within one year of the completion of the program.