§ 8.24-2. ESTABLISHMENT OF A RECORDER'S MODERNIZATION FUND.

(a) There shall be established in the treasury of the City and County of San Francisco a special fund to be known as the Recorder's Modernization Fund into which shall be deposited those portions of the fees collected by the Recorder that are described in Subsection (b) hereof. The monies received into this fund are to be used exclusively to pay the costs required to support, maintain, improve, and provide for the full operation for modernized creation, retention, and retrieval of information in the Recorder's system of recorded documents. The expenditures from said fund shall be in accordance with the budget and fiscal provisions of the Charter. Any balance remaining in the fund at the close of any fiscal year shall be deemed to have been provided for a specific purpose within the meaning of Section 6.306 of the Charter and shall be carried forward and accumulated in the fund for the purpose recited above.

(b) There shall be deposited into the Recorder's Modernization Fund the following:

(i) From the fees collected by the Recorder pursuant to the version of California Government Code Section 27361 that was adopted by Section 1 of Chapter 1156 of the Statutes of 1984 (which is operative until January 1, 1990, unless extended as provided therein), there shall be deposited $1 for each first page and $1 for each additional page or fraction of a page that is recorded; and

(ii) From the fees collected by the Recorder pursuant to the version of California Government Code Section 27361.3 that was adopted by Section 2 of Chapter 1156 of the Statutes of 1984 (which is operative until January 1, 1990, unless extended as provided therein), there shall be deposited $2 for each release of a lien, encumbrance or notice that is recorded.

(Added by Ord. 286-87, App. 7/2/87)