There is hereby created the parking revenue fund, which shall be maintained by the finance director for the purposes herein specified. Upon receipt thereof, the finance director shall deposit all revenues into said fund. The revenues shall thereafter be disbursed in each fiscal year solely for the following purposes and in the following order, the requirements of each purpose to be satisfied fully before any revenues are disbursed for any purpose subsequent in priority:
A. The payment of any obligations of the city arising out of any acquisitions, expansion, improvements or betterment relating to the facilities in such fiscal year;
B. The payment of the costs and expenses of operating and maintaining the facilities in such fiscal year;
C. The payment of any other costs and expenses incurred or accruing in such fiscal year in any way connected with the facilities or any lawful public parking purpose of the city or the authority. Revenues remaining after the foregoing purposes have been fully satisfied in such fiscal year shall be solely applied to and used for the foregoing purposes in the next fiscal year, in the manner provided herein.
(Res. No. 158 77-78 §1 (part), Res. No. 133 95-96 §1)