It shall be the duty of the City Manager to designate some person to make regular collections of the coins deposited in the said parking meters, and to deliver same to the City Treasurer, who shall deposit such moneys in a fund to be known as the “Parking Meter Fund,” which fund shall be used only for the purposes specified in § 72.05. The person making such collections shall be bonded in a sum to be determined by the Council to insure the faithful performance of his duties.
(`73 Code, 20.148, § 10.18)