The Latest: Los Angeles City Council backs 2024 Olympics bid

LOS ANGELES (AP) The latest on the city of Los Angeles' bid to host the 2024 Olympics (all times local):

12:55 p.m.

The U.S. Olympic Committee has formally named the city of Los Angeles as the U.S. bid to host the 2024 Olympics.

USOC CEO Scott Blackmun announced the selection Tuesday, shortly after the Los Angeles City Council cleared the way for Mayor Eric Garcetti to execute agreements that begin negotiations with the USOC.

''Breathe this moment in. There are few moments like this in our lifetime,'' Garcetti said, adding: ''This is a great day for Los Angeles and a great day for the Olympic movement.''

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11:30 a.m.

The Los Angeles City Council has thrown its support behind an effort to bid for the 2024 Olympic Games.

The 15-0 council vote Tuesday cleared the way for Mayor Eric Garcetti to execute agreements that begin negotiations with the U.S. Olympic Committee without obligating the city financially.

Council members expressed enthusiasm about the Games and caution about guarding taxpayer funds.

The USOC is expected to announce that Los Angeles is the U.S. candidate to replace Boston, which was dropped from contention in July.

The International Olympic Committee will pick the host city in 2017. Rome, Paris, Hamburg, Germany, and Budapest, Hungary, are already in the mix.

Los Angeles hosted the 1932 and 1984 Olympics. If selected, Los Angeles would join London as the second three-time host city.

Many financial details of the multibillion-dollar Los Angeles plan remain vague.