(A) The coins required to be deposited in parking meters as provided in this subchapter are levied and assessed as fees to cover the regulation and control of parking upon public streets; the costs of parking meters; their installation, supervision, repair and maintenance; regulating the parking of vehicles in parking meter zones; and the costs of acquiring, improving, and operating public off-street parking facilities.
(B) The coins deposited in parking meters shall be collected by the duly authorized agents of the City Clerk-Treasurer and shall be deposited in a special fund to be known as the "Parking Meter Fund".
(C) The City Clerk-Treasurer shall pay from such Fund the expenses incurred for the purchase, installation, service, supervision, and maintenance of the meters; of making collections from such parking meters; and of the enforcement of the provisions of this subchapter applicable to parking meter zones. The net proceeds of the operation of parking meters in said Fund, after the payment of such costs and expenses, shall be used for parking studies and for the acquisition, improvement, and operation of public off-street parking facilities as the Common Council shall from time to time direct.
(Ord., passed 11-20-78; Am. Ord. 2006-09, passed 4-17-06)