The Bid Committee claims the 56-page document sets out a "truly sustainable and transformative Games concept combining the very best of LA’s rich topography, significant investment in public infrastructure and its wealth of existing, state-of-the-art sports venues".

The venue clusters are said to embrace the "diverse assets" of Downtown LA, San Fernando Valley, South Bay and Santa Monica Bay, where beach volleyball would be held. 

The bid will cost an estimated $40 million (£28 million/€35.9 million) to $55 million (£38.5 million/€49.3 million), the document states.

Officials say partners such as the University of Southern California (USC), the the University of California, Los Angeles, and NBCUniversal will bear much of the financial risk, which also includes USC’s planned $270 million (£188.7 million/€242.2 million) upgrade to the main Olympic stadium, the LA Coliseum. 

The submission comes a day after LA 2024 unveiled its logo and bid slogan "Follow the Sun", which is a reference to the year-round sunshine the Californian city enjoys.

According to the Bid Committee, it demonstrates the "perennial optimism and constant reinvention" of the region.

"Our priority was to create a Games concept that delivers the ultimate personalised experience for athletes, maximises our existing world-class sports infrastructure and reinvigorates the Olympic brand around the world for a new generation," said LA 2024 chairman Casey Wasserman.

"LA 2024 will reimagine what’s possible for a Modern Olympic Games, just like the city did in 1932 and 1984.

"Our prudent, pragmatic and responsible approach will refocus the world’s attention on the value - not the cost - of the greatest celebration of humanity on the planet."

LA 2024 claims the Olympic and Paralympic Games will be shaped by the city’s "pioneering spirit of progress, innovation and optimism".

An Olympic Games in LA will benefit from the city’s relentless commitment to progress and imagining what is next, the Bid Committee states. 

By 2024, it is claimed LA will be investing $88 billion (£61.4 billion/€79 billion) into its transportation upgrade programme - the most extensive in the United States. 

Ninety seven per cent of Games venues are said to be either already in place, planned by private investors or temporary, but LA 2024 claims it will still be a brand new Games experience.

Of the sports venues still providing legacy benefits from the last time LA hosted the Games in 1984, only five are incorporated into the LA 2024 Games Plan.

Three of those - the LA Coliseum, Pauley Pavilion and the Rose Bowl - will have undergone significant renovations by 2024.

The absence of any major Games-related construction projects will allow LA 2024 to focus on delivering the ultimate Games environment, it is claimed, through targeted innovations in sports presentation, fan engagement and personalised athlete experience.

"LA is an innovative city ready to deliver on the sustainable principles of Olympic Agenda 2020," said LA Mayor Eric Garcetti.

"We have the capacity to be an exciting and electric host city, while also committing to fiscal responsibility.

"On behalf of the City of Los Angeles, I would like to thank the International Olympic Committee for giving us this opportunity to put our dreams, our creativity and our love of sport at the service of the Olympic Movement."

A poll carried out by the United States Olympic Committee (USOC) in early August showed that 81 per cent of local citizens in LA supported a bid, giving it unparalleled support among the cities in contention, it was claimed.

Budapest, Paris and Rome are also in the running with a decision due to be made by the IOC at its Session in Lima in Peru in 2017.

If successful, Los Angeles would become the second city after London to host the Olympics three times.

"This bid document is the product of an excellent working relationship between the City of LA, LA 2024 and the USOC," said Scott Blackmun, chief executive of the USOC.

"Together, we have created a Games concept which serves the priorities of the IOC today, the needs of the athletes in 2024, and the Olympic Movement for generations."

Speaking in a media conference call today, Wasserman added: "When you think about what LA and California embody; we embody the creativity and innovation that the world is striving for.

"You take that creative and innovative power, you leverage that on top of a foundation in Los Angeles of not just venues, but infrastructure, hotels and transportation, and what you bid to do is focus on delivering the greatest experience for all constituents for the Olympic and Paralympic Games.

"There's no risk involved with venues, there’s no risk involved with facilities; you have the ultimate platform to deliver and reimagine the Olympic Games.

"If you combine what is uniquely Californian and what is such an integral part of that, Los Angeles, I think the possibilities are extraordinary."

Los Angeles' full vision can be read here.

The submission of the second part of the Candidature File, covering Governance, legal and venue funding, is due by October 7, 2016.

The deadline for the third and final submission, focusing on Games delivery, experience and venue legacy, is February 3, 2017.